This chapter deals with the activities of the Association of International Certified Professional Accountants (AICPA). It reviews the recently issued auditing and accounting standards such as Statements on Auditing Standards (SAS) No. 135, SAS No. 137, SAS No. 138, Standards for Attestation Engagements (SSAE) 19, and SSAE 20. The chapter also highlights the recently issued changes to the Code of Professional Conduct covering the types of leases and information system services. It looks at the Enhancing Audit Quality initiative by the AICPA. The initiative is a six-point plan to improve audit quality and therefore preserve the prominent and respected role the CPA in public practice plays in the business community. The chapter identifies the common audit deficiencies found by the AICPA, namely, lack of sufficient documentation and improper risk assessment.