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Statements of Position

1999

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Proposed Statement On Standards For Accounting And Review Services : Financial Statements Included In Written Business Valuations ;Financial Statements Included In Written Business Valuations; Exposure Draft (American Institute Of Certified Public Accountants), 1999, Dec. 31, American Institute Of Certified Public Accountants. Accounting And Review Services Committee Jan 1999

Proposed Statement On Standards For Accounting And Review Services : Financial Statements Included In Written Business Valuations ;Financial Statements Included In Written Business Valuations; Exposure Draft (American Institute Of Certified Public Accountants), 1999, Dec. 31, American Institute Of Certified Public Accountants. Accounting And Review Services Committee

Statements of Position

Financial statements included in written business valuations frequently contain departures from generally accepted accounting principles (GAAP) or an other comprehensive basis of accounting (OCBOA) because the purpose of such financial statements is solely to assist in developing and presenting the business valuation of an entity. This Statement is being issued to exempt financial statements included in written business valuations from the applicability of Statement on Standards for Accounting and Review Services (SSARS) 1, Compilation and Review of Financial Statements (AICPA, Professional Standards, vol. 2, AR sec. 100), because users of these statements do not require that the statements be in ...


Proposed Statement On Auditing Standards : Audit Adjustments, Reporting On Consistency, And Service Organizations (Omnibus Statement On Auditing Standards, 1999);Audit Adjustments, Reporting On Consistency, And Service Organizations (Omnibus Statement On Auditing Standards, 1999); Exposure Draft (American Institute Of Certified Public Accountants), 1999, Apr. 22, American Institute Of Certified Public Accountants. Auditing Standards Board Jan 1999

Proposed Statement On Auditing Standards : Audit Adjustments, Reporting On Consistency, And Service Organizations (Omnibus Statement On Auditing Standards, 1999);Audit Adjustments, Reporting On Consistency, And Service Organizations (Omnibus Statement On Auditing Standards, 1999); Exposure Draft (American Institute Of Certified Public Accountants), 1999, Apr. 22, American Institute Of Certified Public Accountants. Auditing Standards Board

Statements of Position

This proposed Statement on Auditing Standards (SAS) amends various SASs and consists of the following three parts: Part 1, Audit Adjustments; Part 2, Reporting on Consistency; and Part 3, Service Organizations. Part 1 AUDIT ADJUSTMENTS: The amendments in part 1 of this proposed SAS are being issued to establish audit requirements that would encourage audit clients to record financial statement adjustments proposed by auditors in audits of financial statements. The Auditing Standards Board (ASB) believes such requirements would improve the financial statement reporting process. Part 1 of this proposed SAS would amend three SASs to establish audit requirements that clarify ...


Proposed Statement Of Position : Accounting For And Reporting Of Certain Employee Benefit Plan Investments And Other Disclosure Matters : (Proposed Amendment To The American Institute Of Certified Public Accountants Audit And Accounting Guide, Audits Of Employee Benefit Plans);Accounting For And Reporting Of Certain Employee Benefit Plan Investments And Other Disclosure Matters : (Proposed Amendment To The American Institute Of Certified Public Accountants Audit And Accounting Guide, Audits Of Employee Benefit Plans); Exposure Draft (American Institute Of Certified Public Accountants), 1999, May 17, American Institute Of Certified Public Accountants. Employee Benefit Plans Committee Jan 1999

Proposed Statement Of Position : Accounting For And Reporting Of Certain Employee Benefit Plan Investments And Other Disclosure Matters : (Proposed Amendment To The American Institute Of Certified Public Accountants Audit And Accounting Guide, Audits Of Employee Benefit Plans);Accounting For And Reporting Of Certain Employee Benefit Plan Investments And Other Disclosure Matters : (Proposed Amendment To The American Institute Of Certified Public Accountants Audit And Accounting Guide, Audits Of Employee Benefit Plans); Exposure Draft (American Institute Of Certified Public Accountants), 1999, May 17, American Institute Of Certified Public Accountants. Employee Benefit Plans Committee

Statements of Position

This proposed statement of position (SOP) would amend chapters 3 and 4 of the AICPA Audit and Accounting Guide, Audits of Employee Benefit Plans (the Guide). This proposed SOP would amend SOP 94-4, Reporting of Investment Contracts Held by Health and Welfare Benefit Plans and Defined Contribution Plans, and SOP 92-6, Accounting and Reporting by Health & Welfare Benefit Plans. This proposed SOP would simplify disclosures for certain investments and would supersede AICPA Practice Bulletin 12, Reporting Separate Investment Fund Option Information of Defined Contribution Pension Plans. This proposed SOP would accomplish the following: a. Amend paragraph 3.20 of the ...


Proposed Statement On Auditing Standards : Auditing Financial Instruments : (To Supersede Statement On Auditing Standards No. 81, Auditing Investments);Auditing Financial Instruments : (To Supersede Statement On Auditing Standards No. 81, Auditing Investments); Exposure Draft (American Institute Of Certified Public Accountants), 1999, June 10, American Institute Of Certified Public Accountants. Auditing Standards Board Jan 1999

Proposed Statement On Auditing Standards : Auditing Financial Instruments : (To Supersede Statement On Auditing Standards No. 81, Auditing Investments);Auditing Financial Instruments : (To Supersede Statement On Auditing Standards No. 81, Auditing Investments); Exposure Draft (American Institute Of Certified Public Accountants), 1999, June 10, American Institute Of Certified Public Accountants. Auditing Standards Board

Statements of Position

This proposed Statement on Auditing Standards (SAS) provides guidance to auditors in planning and performing auditing procedures for financial statement assertions about financial instruments. The Auditing Standards Board (ASB) believes the guidance is needed primarily because of expanding requirements for financial statements to provide information about the fair value of financial instruments and the increasing tendency for entities to use service organizations to help them manage activities involving financial instruments. This proposed SAS: a. Indicates that an auditor may need special skill or knowledge to plan and perform auditing procedures for certain assertions about financial instruments and provides guidance on ...


Proposed Statement On Standards For Accounting And Review Services : Amendment To Statement On Standards For Accounting And Review Services 1, Compilation And Review Of Financial Statements ;Amendment To Statement On Standards For Accounting And Review Services 1, Compilation And Review Of Financial Statements; Exposure Draft (American Institute Of Certified Public Accountants), 1999, Dec. 31, American Institute Of Certified Public Accountants. Accounting And Review Services Committee Jan 1999

Proposed Statement On Standards For Accounting And Review Services : Amendment To Statement On Standards For Accounting And Review Services 1, Compilation And Review Of Financial Statements ;Amendment To Statement On Standards For Accounting And Review Services 1, Compilation And Review Of Financial Statements; Exposure Draft (American Institute Of Certified Public Accountants), 1999, Dec. 31, American Institute Of Certified Public Accountants. Accounting And Review Services Committee

Statements of Position

During the last five years, there has been a gradual change in the services that clients of CPAs are requesting. Rapid advances in information technology and low-cost software now enable even the smallest entity to record its transactions and prepare its own financial statements. Nevertheless, many nonpublic entities look to their accountants for varied accounting and business advisory services that often include assistance in the preparation of financial statements intended for management's use. In addition, it has become apparent that there is difficulty and inconsistency within the profession regarding the applicability of Statements on Standards for Accounting and Review ...


Guidance To Practitioners In Conducting And Reporting On An Agreed-Upon Procedures Engagement To Assist Management In Evaluating The Effectiveness Of Its Corporate Compliance Program; Statement Of Position 99-1;, American Institute Of Certified Public Accountants. Health Care Pilot Task Force Jan 1999

Guidance To Practitioners In Conducting And Reporting On An Agreed-Upon Procedures Engagement To Assist Management In Evaluating The Effectiveness Of Its Corporate Compliance Program; Statement Of Position 99-1;, American Institute Of Certified Public Accountants. Health Care Pilot Task Force

Statements of Position

No abstract provided.


Omnibus Proposal Of Professional Ethics Division Interpretations And Rulings; Exposure Draft (American Institute Of Certified Public Accountants), 1999, Aug. 2, American Institute Of Certified Public Accountants. Professional Ethics Executive Committee Jan 1999

Omnibus Proposal Of Professional Ethics Division Interpretations And Rulings; Exposure Draft (American Institute Of Certified Public Accountants), 1999, Aug. 2, American Institute Of Certified Public Accountants. Professional Ethics Executive Committee

Statements of Position

1. PROPOSED REVISION OF INTERPRETATION 101-9 UNDER RULE 101: The Meaning of Certain Independence Terminology and the Effect of Family Relationships on Independence [Definition of Member or Member's Firm]; 2. PROPOSED REVISION OF INTERPRETATION 501-1 UNDER RULE 501: Retention of Client Records; 3. PROPOSED REVISION TO RULING 41 UNDER RULE 101: Member as Auditor of Insurance a Financial Services Company that Manages Member's Assets; 4. PROPOSED REVISION TO RULING 109 UNDER RULE 101: Member's Investment in Financial Services Products That Invest in Clients; 5. PROPOSED RULING UNDER RULE 101: Employee Benefit Plan Sponsored by Client


Comment Letter On Accounting For Certain Transactions Involving Stock Compensation: An Interpretation Of Apb Opinion No. 25, American Institute Of Certified Public Accountants. Accounting Standards Executive Committee. Stock Compensation Task Force Jan 1999

Comment Letter On Accounting For Certain Transactions Involving Stock Compensation: An Interpretation Of Apb Opinion No. 25, American Institute Of Certified Public Accountants. Accounting Standards Executive Committee. Stock Compensation Task Force

Statements of Position

No abstract provided.


Comment Letters On Proposed Statement On Auditing Standards : Audit Adjustments, Reporting On Consistency, And Service Organizations, American Institute Of Certified Public Accountants. Auditing Standards Board Jan 1999

Comment Letters On Proposed Statement On Auditing Standards : Audit Adjustments, Reporting On Consistency, And Service Organizations, American Institute Of Certified Public Accountants. Auditing Standards Board

Statements of Position

No abstract provided.


Comment Letters On Proposed Audit And Accounting Guide, Life And Health Insurance Entities, American Institute Of Certified Public Accountants. Committee On Insurance Accounting And Auditing. Audits Of Stock Life Insurance Companies Jan 1999

Comment Letters On Proposed Audit And Accounting Guide, Life And Health Insurance Entities, American Institute Of Certified Public Accountants. Committee On Insurance Accounting And Auditing. Audits Of Stock Life Insurance Companies

Statements of Position

No abstract provided.


Comment Letters, Propsed Statement Of Position, Accounting By Producers And Distributors Of Films;, American Institute Of Certified Public Accountants. Accounting Standards Executive Committee Jan 1999

Comment Letters, Propsed Statement Of Position, Accounting By Producers And Distributors Of Films;, American Institute Of Certified Public Accountants. Accounting Standards Executive Committee

Statements of Position

No abstract provided.


Proposed Revisions To The Aicpa Standards For Performing And Reporting On Peer Reviews;Aicpa Standards For Performing And Reporting On Peer Reviews;Standards For Performing And Reporting On Peer Reviews; Exposure Draft (American Institute Of Certified Public Accountants), 1999, May 17, American Institute Of Certified Public Accountants. Peer Review Board Jan 1999

Proposed Revisions To The Aicpa Standards For Performing And Reporting On Peer Reviews;Aicpa Standards For Performing And Reporting On Peer Reviews;Standards For Performing And Reporting On Peer Reviews; Exposure Draft (American Institute Of Certified Public Accountants), 1999, May 17, American Institute Of Certified Public Accountants. Peer Review Board

Statements of Position

The AICPA Peer Review Board is issuing this exposure draft to update the Standards for Performing and Reporting on Peer Reviews (AICPA, Professional Standards, vol. 2 PR section 100). This proposal: 1. Replaces the term "on-site peer review" with "systemic review" in order to more accurately describe this type of peer review. On a systemic review, the reviewer expresses an opinion on the firm's system of quality control (page 7). 2. Changes the definition of engagements that require a firm to have an on-site (systemic) review. Firms that perform services listed in paragraph 4 of the Standards (which includes ...


Proposed Statement On Auditing Standards : Amendments To Statement On Auditing Standards No. 61, Communication With Audit Committees And Statement On Auditing Standards No. 71, Interim Financial Information;Amendments To Statement On Auditing Standards No. 61, Communication With Audit Committees And Statement On Auditing Standards No. 71, Interim Financial Information; Exposure Draft (American Institute Of Certified Public Accountants), 1999, Oct. 1, American Institute Of Certified Public Accountants. Auditing Standards Board Jan 1999

Proposed Statement On Auditing Standards : Amendments To Statement On Auditing Standards No. 61, Communication With Audit Committees And Statement On Auditing Standards No. 71, Interim Financial Information;Amendments To Statement On Auditing Standards No. 61, Communication With Audit Committees And Statement On Auditing Standards No. 71, Interim Financial Information; Exposure Draft (American Institute Of Certified Public Accountants), 1999, Oct. 1, American Institute Of Certified Public Accountants. Auditing Standards Board

Statements of Position

On September 28, 1998, Securities and Exchange Commission (SEC) Chairman Arthur Levitt, Jr., expressed significant concern about the quality of financial reporting in corporate America. Chairman Levitt described the problem as one that must be addressed by the entire financial community rather than the government alone and called for several actions, including the formation of a blue ribbon panel to develop recommendations to improve audit committee performance. The panel was formed and named the Blue Ribbon Committee on Improving the Effectiveness of Corporate Audit Committees (BRC). In February 1999, the BRC issued Report and Recommendations of the Blue Ribbon Committee ...


Comment Leters On Proposed Statement On Auditing Standards, Amendment To Statement On Auditing Standards No. 69, The Meaning Of Present Fairly In Conformity With Generally Accepted Accounting Principles In The Independent Auditor's Report, American Institute Of Certified Public Accountants. Auditing Standards Board Jan 1999

Comment Leters On Proposed Statement On Auditing Standards, Amendment To Statement On Auditing Standards No. 69, The Meaning Of Present Fairly In Conformity With Generally Accepted Accounting Principles In The Independent Auditor's Report, American Institute Of Certified Public Accountants. Auditing Standards Board

Statements of Position

No abstract provided.


Comment Letters On Discussion Paper, Accounting By Life Insurance Enterprises For Deferred Acquisition Costs On Internal Replacements Other Than Those Covered By Fasb Statement No. 97, American Institute Of Certified Public Accountants. Insurance Companies Committee Jan 1999

Comment Letters On Discussion Paper, Accounting By Life Insurance Enterprises For Deferred Acquisition Costs On Internal Replacements Other Than Those Covered By Fasb Statement No. 97, American Institute Of Certified Public Accountants. Insurance Companies Committee

Statements of Position

No abstract provided.


Comment Letters On Proposed Statement On Standards For Accounting And Review Services Financial Statements Included In Written Business Valuations, American Institute Of Certified Public Accountants. Accounting And Review Services Committee Jan 1999

Comment Letters On Proposed Statement On Standards For Accounting And Review Services Financial Statements Included In Written Business Valuations, American Institute Of Certified Public Accountants. Accounting And Review Services Committee

Statements of Position

No abstract provided.


Proposed Statement On Auditing Standards : Amendment To Statement On Auditing Standards No. 69, The Meaning Of "Present Fairly In Conformity With Generally Accepted Accounting Principles" In The Independent Auditor's Report;Amendment To Statement On Auditing Standards No. 69, The Meaning Of "Present Fairly In Conformity With Generally Accepted Accounting Principles" In The Independent Auditor's Report;Meaning Of "Present Fairly In Conformity With Generally Accepted Accounting Principles" In The Independent Auditor's Report; Exposure Draft (American Institute Of Certified Public Accountants), 1999, Nov. 29, American Institute Of Certified Public Accountants. Auditing Standards Board Jan 1999

Proposed Statement On Auditing Standards : Amendment To Statement On Auditing Standards No. 69, The Meaning Of "Present Fairly In Conformity With Generally Accepted Accounting Principles" In The Independent Auditor's Report;Amendment To Statement On Auditing Standards No. 69, The Meaning Of "Present Fairly In Conformity With Generally Accepted Accounting Principles" In The Independent Auditor's Report;Meaning Of "Present Fairly In Conformity With Generally Accepted Accounting Principles" In The Independent Auditor's Report; Exposure Draft (American Institute Of Certified Public Accountants), 1999, Nov. 29, American Institute Of Certified Public Accountants. Auditing Standards Board

Statements of Position

The Federal Accounting Standards Advisory Board (FASAB) was organized in 1991 by the United States Department of the Treasury, the United States Office of Management and Budget, and the United States General Accounting Office to establish financial accounting and reporting standards for federal governmental entities. On October 19, 1999, AICPA Council adopted a resolution recognizing the FASAB as the body designated to establish generally accepted accounting principles (GAAP) for federal governmental entities under Rule 203, "Accounting Principles," of the AlCPA's Code of Professional Conduct. Members may now express an opinion that the financial statements of a federal governmental entity ...


Comment Letters On Family Relationships Between The Auditor And The Audit Client, Independence Standards Board Jan 1999

Comment Letters On Family Relationships Between The Auditor And The Audit Client, Independence Standards Board

Statements of Position

No abstract provided.


Comment Letters On Proposed Statement On Standards For Accounting And Review Services Amendment To Statement On Standards For Accounting And Review Services 1, Compilation And Review Of Financial Statements, American Institute Of Certified Public Accountants. Accounting And Review Services Committee Jan 1999

Comment Letters On Proposed Statement On Standards For Accounting And Review Services Amendment To Statement On Standards For Accounting And Review Services 1, Compilation And Review Of Financial Statements, American Institute Of Certified Public Accountants. Accounting And Review Services Committee

Statements of Position

No abstract provided.


Comment Letters On Proposed Statement On Auditing Standards, Auditing Financial Instruments, American Institute Of Certified Public Accountants. Auditing Standards Board Jan 1999

Comment Letters On Proposed Statement On Auditing Standards, Auditing Financial Instruments, American Institute Of Certified Public Accountants. Auditing Standards Board

Statements of Position

No abstract provided.


Accounting For And Reporting Of Certain Defined Contribution Plan Investments And Other Disclosure Matters : Amendment To The Aicpa Audit And Accounting Guide, Audits Of Employee Benefit Plans; Statement Of Position 99-3;, American Institute Of Certified Public Accountants. Accounting Standards Executive Committee Jan 1999

Accounting For And Reporting Of Certain Defined Contribution Plan Investments And Other Disclosure Matters : Amendment To The Aicpa Audit And Accounting Guide, Audits Of Employee Benefit Plans; Statement Of Position 99-3;, American Institute Of Certified Public Accountants. Accounting Standards Executive Committee

Statements of Position

No abstract provided.


Accounting For And Reporting Of Postretirement Medical Benefit (401(H)) Features Of Defined Benefit Pension Plans : Amendment To The Aicpa Audit And Accounting Guide, Audits Of Employee Benefit Plans; Statement Of Position 99-2;, American Institute Of Certified Public Accountants. Employee Benefit Plans Committee Jan 1999

Accounting For And Reporting Of Postretirement Medical Benefit (401(H)) Features Of Defined Benefit Pension Plans : Amendment To The Aicpa Audit And Accounting Guide, Audits Of Employee Benefit Plans; Statement Of Position 99-2;, American Institute Of Certified Public Accountants. Employee Benefit Plans Committee

Statements of Position

No abstract provided.


Proposed Statements On Quality Control Standards : System Of Quality Control For A Cpa Firm's Accounting And Auditing Practice : (A Revision Of Statement On Quality Control Standards No. 2, System Of Quality Control For A Cpa Firm's Accounting And Auditing Practice : And The Personnel Management Element Of A Firm's System Of Quality Control-- Competencies Required By A Practitioner-In-Charge Of An Attest Engagement;System Of Quality Control For A Cpa Firm's Accounting And Auditing Practice : (A Revision Of Statement On Quality Control Standards No. 2, System Of Quality Control For A Cpa Firm's Accounting And Auditing Practice : And The Personnel Management Element Of A Firm's System Of Quality Control-- Competencies Required By A Practitioner-In-Charge Of An Attest Engagement;Personnel Management Element Of A Firm's System Of Quality Control-- Competencies Required By A Practitioner-In-Charge Of An Attest Engagement; Exposure Draft (American Institute Of Certified Public Accountants), 1999, June 17, American Institute Of Certified Public Accountants. Auditing Standards Board Jan 1999

Proposed Statements On Quality Control Standards : System Of Quality Control For A Cpa Firm's Accounting And Auditing Practice : (A Revision Of Statement On Quality Control Standards No. 2, System Of Quality Control For A Cpa Firm's Accounting And Auditing Practice : And The Personnel Management Element Of A Firm's System Of Quality Control-- Competencies Required By A Practitioner-In-Charge Of An Attest Engagement;System Of Quality Control For A Cpa Firm's Accounting And Auditing Practice : (A Revision Of Statement On Quality Control Standards No. 2, System Of Quality Control For A Cpa Firm's Accounting And Auditing Practice : And The Personnel Management Element Of A Firm's System Of Quality Control-- Competencies Required By A Practitioner-In-Charge Of An Attest Engagement;Personnel Management Element Of A Firm's System Of Quality Control-- Competencies Required By A Practitioner-In-Charge Of An Attest Engagement; Exposure Draft (American Institute Of Certified Public Accountants), 1999, June 17, American Institute Of Certified Public Accountants. Auditing Standards Board

Statements of Position

The Auditing Standards Board (ASB) is considering the issuance of two Statements on Quality Control Standards (SQCSs) to provide a CPA firm with improved guidance for establishing and maintaining a quality control system for its accounting and auditing practice. Proposed Statement of Quality Control Standard, System of Quality Control for a CPA Firm's Accounting and Auditing Practice (A Revision of SQCS No. 2) In recent years, the Securities and Exchange Commission (SEC) has successfully brought enforcement actions against individuals who, in the SEC's opinion, did not apply professional standards in his or her role as the concurring partner ...


Comment Letter On Accounting For Derivative Instruments And Hedging Activities—Deferral Of The Effective Date Of Fasb Statement No. 133., American Institute Of Certified Public Accountants. Accounting Standards Executive Committee Jan 1999

Comment Letter On Accounting For Derivative Instruments And Hedging Activities—Deferral Of The Effective Date Of Fasb Statement No. 133., American Institute Of Certified Public Accountants. Accounting Standards Executive Committee

Statements of Position

No abstract provided.