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Statements of Position

1982

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Proposed Statement On Auditing Standards : Consideration Of Omitted Procedures After The Report Date ;Consideration Of Omitted Procedures After The Report Date; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Nov. 1, American Institute Of Certified Public Accountants. Auditing Standards Board Jan 1982

Proposed Statement On Auditing Standards : Consideration Of Omitted Procedures After The Report Date ;Consideration Of Omitted Procedures After The Report Date; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Nov. 1, American Institute Of Certified Public Accountants. Auditing Standards Board

Statements of Position

This proposed Statement provides guidance on the considerations and procedures to be applied by an auditor who, subsequent to the date of his report on audited financial statements, concludes that one or more auditing procedures considered necessary in the circumstances were omitted from his examination of the financial statements. If the auditor concludes that the ommission materially affects his present ability to support his opinion, the proposed SAS would require that the auditor promptly undertake to apply the omitted procedure or alternative procedures that would provide a satisfactory basis for his opinion.


Accounting And Financial Reporting For Personal Financial Statements : An Amendment To Aicpa Industry Audit Guide, Audits Of Personal Financial Statements; Statement Of Position 82-1;, American Institute Of Certified Public Accountants. Accounting Standards Division Jan 1982

Accounting And Financial Reporting For Personal Financial Statements : An Amendment To Aicpa Industry Audit Guide, Audits Of Personal Financial Statements; Statement Of Position 82-1;, American Institute Of Certified Public Accountants. Accounting Standards Division

Statements of Position

No abstract provided.


Proposed Interpretation Of Quality Control Standards : Documentation Of Compliance With A System Of Quality Control;Documentation Of Compliance With A System Of Quality Control; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Feb. 8, American Institute Of Certified Public Accountants. Quality Control Standards Committee Jan 1982

Proposed Interpretation Of Quality Control Standards : Documentation Of Compliance With A System Of Quality Control;Documentation Of Compliance With A System Of Quality Control; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Feb. 8, American Institute Of Certified Public Accountants. Quality Control Standards Committee

Statements of Position

The proposed interpretation is to advise CPA firms that documentation would ordinarily be required to demonstrate a firms's compliance with its quality control policies and procedures.


Accounting And Reporting By Defined Contribution Plans And Employee Health And Welfare Benefit Plans : Proposed Accounting Chapters, Audits Of Employee Benefit Plans ;Audits Of Employee Benefit Plans; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Jan. 15, American Institute Of Certified Public Accountants. Employee Benefit Plans And Erisa Committee Jan 1982

Accounting And Reporting By Defined Contribution Plans And Employee Health And Welfare Benefit Plans : Proposed Accounting Chapters, Audits Of Employee Benefit Plans ;Audits Of Employee Benefit Plans; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Jan. 15, American Institute Of Certified Public Accountants. Employee Benefit Plans And Erisa Committee

Statements of Position

This exposure draft is the proposed accounting chapters of the audit guide, Audtis of Employee Benefit Plans. An exposure draft of the proposed auditing sections of that audit guide was issued for comments on on June 30, 1980. The accounting guidance in this exposure draft for defined contribution plans and employee health and welfare benefit plans is intended to be consistent with the principles in FASB Statement No. 35 to the extent they are relevant. This exposure draft describes the form of financial statements, provides for the reporting of plan investments at fair value, and describes additional financial statement disclosures ...


Proposed Statement Of Position : Report On A Financial Feasibility Study ;Report On A Financial Feasibility Study; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Feb. 15, American Institute Of Certified Public Accountants. Financial Forecasts And Projections Task Force Jan 1982

Proposed Statement Of Position : Report On A Financial Feasibility Study ;Report On A Financial Feasibility Study; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Feb. 15, American Institute Of Certified Public Accountants. Financial Forecasts And Projections Task Force

Statements of Position

This proposed Statement of Position illustrates an expanded form of report that can be used for financial feasibility studies when the accountant has applied procedures that exceed those that would pertain solely to a review of a financial forecast. The report includes a description of the scope of the feasibility study and a statement of conclusions that result from the study.


Proposed Auditing Statement Of Position : Auditing Property And Liability Reinsurance ;Auditing Property And Liability Reinsurance; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Mar. 15, American Institute Of Certified Public Accountants. Reinsurance Auditing And Accounting Task Force Jan 1982

Proposed Auditing Statement Of Position : Auditing Property And Liability Reinsurance ;Auditing Property And Liability Reinsurance; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Mar. 15, American Institute Of Certified Public Accountants. Reinsurance Auditing And Accounting Task Force

Statements of Position

This exposure draft provides guidance on certain significant aspects of internal accounting controls and auditing procedrues for property and liability reinsurance, including accident and health reinsurance. For ceded reinsurance, this draft provides guidance on internal accounting controls and related auditing procedures regarding the evaluation of the assuming company's financial responsibility and stability. For assumed reinsurance, the draft provides guidance on internal accounting controls and related auditing procedures regarding the assessment of the accuracy and reliability of data received from the ceding company. The draft also provides guidance on the auditor's tests of selected reinsurance contracts, transactions, and related ...


Proposed Statement On Auditing Standards : Omnibus Statement On Auditing Standards ;Omnibus Statement On Auditing Standards; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Mar. 23, American Institute Of Certified Public Accountants. Auditing Standards Board Jan 1982

Proposed Statement On Auditing Standards : Omnibus Statement On Auditing Standards ;Omnibus Statement On Auditing Standards; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Mar. 23, American Institute Of Certified Public Accountants. Auditing Standards Board

Statements of Position

This proposed Statement consists solely of amendments to the following existing statements: SAS No. 1, Section 150: Generally Accepted Auditing Standards; SAS NO. 1, Section 320: The Auditor's Study and Evaluation of Internal Control: SAS No. 1, Section 331, Receivables and Inventories; SAS No. 1, Section 420: Consistency of Application of Genearlly Accepted Accounting Principles; SAS No. 1, Section 901: Public Warehouses--Controls and Auditing Procedures for Goods Held; SAS No. 2, Paragraph 39: Reports on Audited financial Statements; SAS No. 5, Paragraphs 5 and 6: The Meaning of "Present Fairly in Conformity With Generally Accepted Accounting Principles" in the ...


Proposed Interpretation Of 101-9 : The Meaning Of Certain Independence Terminology And The Effect Of Family Relationships On Independence ;Meaning Of Certain Independence Terminology And The Effect Of Family Relationships On Independence; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Aug. 11, American Institute Of Certified Public Accountants. Professional Ethics Executive Committee Jan 1982

Proposed Interpretation Of 101-9 : The Meaning Of Certain Independence Terminology And The Effect Of Family Relationships On Independence ;Meaning Of Certain Independence Terminology And The Effect Of Family Relationships On Independence; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Aug. 11, American Institute Of Certified Public Accountants. Professional Ethics Executive Committee

Statements of Position

This interpretation defines certain terms used in rule 101 and, in doing so, also explains how independence may be impaired through certain family relationships.


Proposed Statement Of Position : Accounting By Agricultural Producers And Agricultural Cooperatives;Accounting By Agricultural Producers And Agricultural Cooperatives; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Sept. 10, American Institute Of Certified Public Accountants. Accounting Standards Division Jan 1982

Proposed Statement Of Position : Accounting By Agricultural Producers And Agricultural Cooperatives;Accounting By Agricultural Producers And Agricultural Cooperatives; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Sept. 10, American Institute Of Certified Public Accountants. Accounting Standards Division

Statements of Position

This proposed Statement presents accounting and reporting recommendations for the general-purpose financial statements of agricultural producers and agricultural cooperatives. The proposed statement recommends that growing crops of agricultural producers be reported at the lower of cost and market and that inventories of harvested crops and livestock held for sale also be reported at the lower of cost and market unless certain conditions are met. Permanent land development costs, such as clearing, initial leveling, terracing, and construction of earthen dams, would be capitalized but not depreciated. The proposed statement recommends that all direct and indirect costs of developing production animals be ...


Proposed Statement On Auditing Standards : Timing Of Substantive Tests ;Timing Of Substantive Tests; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Oct. 1, American Institute Of Certified Public Accountants. Auditing Standards Board Jan 1982

Proposed Statement On Auditing Standards : Timing Of Substantive Tests ;Timing Of Substantive Tests; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Oct. 1, American Institute Of Certified Public Accountants. Auditing Standards Board

Statements of Position

Auditors often perform procedures such as observation of the taking of physical inventories or confirmation of accounts receivable as of a date that is before the balance-sheet date. This proposed Statement provides guidance on the factors auditors should consider before applying such substantive tests at interim dates.This proposed Statement also provides guidance on auditing procedures that should be applied to provide a reasonable basis for extending the audit conclusions at the interim date to the balance-sheet date.


Proposed Guide : Personal Financial Statements : Compilation, Review, And Audit ;Personal Financial Statements : Compilation, Review, And Audit; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Nov. 1, American Institute Of Certified Public Accountants. Personal Financial Statements Task Force Jan 1982

Proposed Guide : Personal Financial Statements : Compilation, Review, And Audit ;Personal Financial Statements : Compilation, Review, And Audit; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Nov. 1, American Institute Of Certified Public Accountants. Personal Financial Statements Task Force

Statements of Position

This statement provides guidance on the scope of work and form of report for an audit, review, or compilation of personal financial statements prepared in conformity with the accounting provisions of Statement of Position 82-1, Accounting and Financial Reporting for Personal Financial Statements. The guide first discusses matters that are common to all personal financial statement engagements. The guide then discusses the application of current professional standards to engagements to compile, review , or audit personal financial statements that present assets at their estimated current values and liabilities at their estimated current amounts. Finally, the guide discusses reporting on personal financial ...


Proposed Statement On Auditing Standards : Materiality And Audit Risk In Conducting An Audit ;Materiality And Audit Risk In Conducting An Audit; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Dec. 6, American Institute Of Certified Public Accountants. Auditing Standards Board Jan 1982

Proposed Statement On Auditing Standards : Materiality And Audit Risk In Conducting An Audit ;Materiality And Audit Risk In Conducting An Audit; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Dec. 6, American Institute Of Certified Public Accountants. Auditing Standards Board

Statements of Position

This Statement provides guidance on the auditor's consideration of materiality and audit risk when planning and performing an examination of financial statements in accordance with generally accepted auditing standards. The concepts of materiality and audit risk affect the application of generally accepted auditing standards, especially the standards of field work and reporting, and are inherent in the autitor's standard report. The concept of materiality recognizes that some matters, either individually or in the aggregate, are important for fair presentation of financial statements, while other matters are not important. Audit risk is the risk that the auditor may unknowingly ...


Proposed Audit Guide : Audits Of Brokers And Dealers In Securities ;Audits Of Brokers And Dealers In Securities; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Dec. 27, American Institute Of Certified Public Accountants. Stockbrokerage Auditing Subcommittee Jan 1982

Proposed Audit Guide : Audits Of Brokers And Dealers In Securities ;Audits Of Brokers And Dealers In Securities; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Dec. 27, American Institute Of Certified Public Accountants. Stockbrokerage Auditing Subcommittee

Statements of Position

This proposed revised audit guide on brokers and dealers in securities was undertaken to reflect changes in industry practices and regulatory requirements that have occurred in recent years. The proposed guide describes operations, accounting practices and regulatory requirements unique to the brokerage industry, discusses unique aspects of the audit and illustrates the form and content of the financial statements and auditor's report. Also, the draft recommends new accounting and reporting practices relating to the valuation of future and forward transactions and unlisted options and to the presentation of subordinated debt and shareholders' equity in the financial statements. Significant changes ...


Report On A Financial Feasibility Study, Supplements The Guide For A Review Of A Financial Forecast, October 1982; Statement Of Position 1982, Oct; Statement Of Position 1982, Oct, American Institute Of Certified Public Accountants. Financial Forecasts And Projections Task Force Jan 1982

Report On A Financial Feasibility Study, Supplements The Guide For A Review Of A Financial Forecast, October 1982; Statement Of Position 1982, Oct; Statement Of Position 1982, Oct, American Institute Of Certified Public Accountants. Financial Forecasts And Projections Task Force

Statements of Position

No abstract provided.


Accounting Guidelines For The Computer Services Industry; Exposure Draft (American Institute Of Certified Public Accountants), 1982, April 28, Association Of Data Processing Service Organizations Jan 1982

Accounting Guidelines For The Computer Services Industry; Exposure Draft (American Institute Of Certified Public Accountants), 1982, April 28, Association Of Data Processing Service Organizations

Statements of Position

No abstract provided.


Auditing Property And Liability Reinsurance; Statement Of Position 1982 October;, American Institute Of Certified Public Accountants. Reinsurance Auditing And Accounting Task Force Jan 1982

Auditing Property And Liability Reinsurance; Statement Of Position 1982 October;, American Institute Of Certified Public Accountants. Reinsurance Auditing And Accounting Task Force

Statements of Position

No abstract provided.


Proposed Statement On Auditing Standards : Related Party Transactions ;Related Party Transactions; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Oct. 22, American Institute Of Certified Public Accountants. Auditing Standards Executive Committee Jan 1982

Proposed Statement On Auditing Standards : Related Party Transactions ;Related Party Transactions; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Oct. 22, American Institute Of Certified Public Accountants. Auditing Standards Executive Committee

Statements of Position

This proposed Statement consists solely of editorial amendments to SAS NO. 6, Related Partly Transactions. The purpose of the amendments is to remove accounting guidance and disclosure standards that are now contained in FASB Statement of Financial Accounting Standards No. 57, Related Party Disclosures. The proposed SAS does not change the audit procedures that should be applied to identify related parties and to understand transactions with those parties, and thus it should not affect practice.


Statements Of Position Of The Accounting Standards Division As Of January 1, 1982, American Institute Of Certified Public Accountants. Accounting Standards Division Jan 1982

Statements Of Position Of The Accounting Standards Division As Of January 1, 1982, American Institute Of Certified Public Accountants. Accounting Standards Division

Statements of Position

No abstract provided.


Proposed Statement Of Position : Accountant's Report On A Review Of A Financial Forecast Contained In Filings Under Federal Securities Statutes ;Accountant's Report On A Review Of A Financial Forecast Contained In Filings Under Federal Securities Statutes; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Feb. 10, American Institute Of Certified Public Accountants. Financial Forecasts And Projections Task Force Jan 1982

Proposed Statement Of Position : Accountant's Report On A Review Of A Financial Forecast Contained In Filings Under Federal Securities Statutes ;Accountant's Report On A Review Of A Financial Forecast Contained In Filings Under Federal Securities Statutes; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Feb. 10, American Institute Of Certified Public Accountants. Financial Forecasts And Projections Task Force

Statements of Position

This proposed Statement would supplement the Guide for a Review of a Financial Forecast. The Proposed SOP provides guidance to the accountant when his report on a review of a financial forecast is included in a registration statement filed with the SEC under the Securities Act of 1933. The proposed SOP describes the procedures an accountant should undertake between the date of his review report and the effective date of the registration statement when the report is not required to be updated under the terms of his engagement. These procedures, which are limited to reading certain documents and making certain ...


Proposed Audit Guide : Audit Sampling;Audit Sampling; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Mar. 1, American Institute Of Certified Public Accountants. Statistical Sampling Subcommittee Jan 1982

Proposed Audit Guide : Audit Sampling;Audit Sampling; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Mar. 1, American Institute Of Certified Public Accountants. Statistical Sampling Subcommittee

Statements of Position

This exposure draft is a proposed Audit Guide entitled Audit Sampling. The proposed guide is important to all CPAs who do audits. It provides guidance to the auditor for implementing Statement on Auditing Standards no. 39, Audit Sampling. SAS no. 39 applies to all audit sampling — both statistical and nonstatistical. This proposed guide provides guidance to assist auditors using either approach in applying SAS no. 39. The guide is organized so that essentially all the guidance relating solely to statistical sampling is located beginning with Chapter 3, section 3. As a result, if an auditor is using this guide ...


Proposed Statements On Standards For Management Advisory Services : Mas Engagements And Mas Consultations ;Mas Engagements And Mas Consultations; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Mar. 30, American Institute Of Certified Public Accountants. Management Advisory Services Executive Committee Jan 1982

Proposed Statements On Standards For Management Advisory Services : Mas Engagements And Mas Consultations ;Mas Engagements And Mas Consultations; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Mar. 30, American Institute Of Certified Public Accountants. Management Advisory Services Executive Committee

Statements of Position

The proposed statement on MAS (Management Advisory Services) engagements provides guidance on the application of the MAS standards on professional competence, planning and supervision, sufficient relevant data, the role of the practitioner, the understanding with the client, client benefit, and communication of results. The proposed statement on MAS consultations proivides guidance on the application of the general standards on due professional care, planning and supervision, and sufficient relevant data. It proposes that the four technical standards established for MAS engagements in SSMAS no. 1 be made applicable to MAS consultations.


Proposed Statement Of Position : Accounting For Dollar Repurchase, Dollar Reverse Repurchase Agreements By Sellers-Borrowers ;Accounting For Dollar Repurchase, Dollar Reverse Repurchase Agreements By Sellers-Borrowers; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Apr. 14, American Institute Of Certified Public Accountants. Accounting Standards Division Jan 1982

Proposed Statement Of Position : Accounting For Dollar Repurchase, Dollar Reverse Repurchase Agreements By Sellers-Borrowers ;Accounting For Dollar Repurchase, Dollar Reverse Repurchase Agreements By Sellers-Borrowers; Exposure Draft (American Institute Of Certified Public Accountants), 1982, Apr. 14, American Institute Of Certified Public Accountants. Accounting Standards Division

Statements of Position

This Statement provides guidance on accounting for sales and purchases of or borrowing of funds through Government National Mortgage Association (GNMA) pass-through certificates and Federal Home Loan Mortgage Corporation (FHLMC) participation certificates under fixed coupon and yield maintenance dollar agreements. It also describes the accounting for rollovers and extensions of original agreements, and the repurchase of a principal amount different from the principal amount of the original agreement. The conclusions state that fixed coupon dollar agreements should be accounted for as collateralized borrowing arrangements, while yield maintenance dollar agreements should be accounted for as sales and purchases of securities.


Proposed Statement On Standards For Accounting And Review Services : Computer-Prepared Interim Financial Statements;Computer-Prepared Interim Financial Statements; Exposure Draft (American Institute Of Certified Public Accountants), 1982, June 15, American Institute Of Certified Public Accountants. Accounting And Review Services Committee Jan 1982

Proposed Statement On Standards For Accounting And Review Services : Computer-Prepared Interim Financial Statements;Computer-Prepared Interim Financial Statements; Exposure Draft (American Institute Of Certified Public Accountants), 1982, June 15, American Institute Of Certified Public Accountants. Accounting And Review Services Committee

Statements of Position

This proposed Statement would grant the accountant an exemption from the SSARS 1 requirement to comply, as a minimum, with the standards for a compilation engagement when, in specified circumstances, he submits computer-prepared interim financial statements to his client or others. The draft would require the use of a legend on each page of the statements, stating that the computer-prepared interim financial statements do not purport to reflect all appropriate adjustments and disclosures required by generally accepted accounting principles (or another comprehensive basis of accounting) and that they were not compiled, reviewed, or audited by an independent accountant.