Professional Standards Question: Reviewing Tax Returns Without Access to Underlying Records
I'm a CPA who works for a financial advisor at a small firm. I was hired to help grow the firm's tax and accounting practice and support the advisor's existing financial planning and investment management clients.
One of the things my boss has asked me to do is review clients' draft tax returns (either self-prepared or prepared by another CPA firm) and give them the green light to file.
My issue is that I don't receive any of the underlying tax documents used to prepare the return.
As a CPA, should I really be telling clients their return is ready to file without reviewing all the underlying documentation? Other than information already on file with the brokerage custodian where we manage the client's accounts, I don't have access to source documents supporting the return. At most, I can compare the return to information I already have access to and identify items I would generally expect based on the client's profile at my firm (for example, educator expenses).
I'm interested in hearing how others would handle this situation. Are there any specific AICPA standards, or Circular 230 provisions that address whether a CPA can provide this type of review or sign-off without access to the underlying records?