This 2003 AICPA Industry Audit Guide, Audits of Airlines, is being provided here for free as it has not been updated to reflect current industry, accounting, and auditing guidance. Specifically, this edition has not been updated to reflect pronouncements issued after May 1, 2003, including FASB Staff Position AUG AIR-1, Accounting for Planned Major Maintenance Activities, which amended this guide to prohibit the use of the accrue-in-advance method of accounting for planned major maintenance activities.

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In efforts to serve you better, the Accounting Standards Executive Committee (AcSEC) of the AICPA has issued an exposure draft of a proposed AICPA Audit and Accounting Guide, Airlines. The proposed guide addresses many new accounting issues that have emerged over the years and were not reflected in the May 1, 2003 edition.