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Exposure Drafts, Comment Letters, and Statements of Position
Accountants -- Professional ethics -- Standards -- United States; Conflict of interests
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Omnibus Proposal Of Interpretations And Rulings: Proposed Interpretation 302-1: Meaning Of The Phrase "The Findings Of Governmental Agencies" As Stated In Rule 302 Of The Rules Of Conduct, Proposed Interpretation 101-10: The Effect On Independence Of Relationships Proscribed By Rule 101 With Nonclient Entities Included With A Member's Client In The Financial Statements Of A Governmental Reporting Entity, Ruling No. 63 Under Et Section 191: Review Of Prospective Financial Information--Member's Independence Of Promoters, Ruling No. 64 Under Et Section 191: Joint Investment With A Promoter Or General Partner;Proposed Interpretation 302-1: Meaning Of The Phrase "The Findings Of Governmental Agencies" As Stated In Rule 302 Of The Rules Of Conduct;Meaning Of The Phrase "The Findings Of Governmental Agencies" As Stated In Rule 302 Of The Rules Of Conduct;Proposed Interpretation 101-10: The Effect On Independence Of Relationships Proscribed By Rule 101 With Nonclient Entities Included With A Member's Client In The Financial Statements Of A Governmental Reporting Entity;Effect On Independence Of Relationships Proscribed By Rule 101 With Nonclient Entities Included With A Member's Client In The Financial Statements Of A Governmental Reporting Entity,The;Ruling No. 63 Under Et Section 191: Review Of Prospective Financial Information--Member's Independence Of Promoters;Ruling No. 64 Under Et Section 191: Joint Investment With A Promoter Or General Partner; Exposure Draft (American Institute Of Certified Public Accountants), 1985, May 17, American Institute Of Certified Public Accountants. Professional Ethics Executive Committee
Exposure Drafts, Comment Letters, and Statements of Position
It is the position of the Professional Ethics Executive Committee that a "finding of a governmental agency" in tax matters results from the settlement of a controversy with the appropriate govenment agency. Proposed Interpretation 101-10 requires a member issuing a report on the combined financial statements of a governmental reporting entity to be independent of the oversight entity and each of the component units included in the report. The AICPA Professional Ethics Division has developed proposed Ruling No. 63, "Review of Prospective Financial Information--Member's Independence of Promoters," to clarify the independence requirements and provide guidance in applying them. Ruling No. …