Exposure Drafts of Proposed Statements
The Auditing Standards Board (ASB) develops and issues standards in the form of Statements on Auditing Standards, Statements on Standards for Attestation Engagements, and Statements on Quality Control Standards. The Accounting and Review Services Committee (ARSC) develops and issues standards in the form of Statements on Standards for Accounting and Review Services. Both the ASB and the ARSC utilize a process that includes deliberation in meetings open to the public, public exposure of proposed statements, and a formal vote. Exposure drafts of these statements are issued by the AICPA to invite public comment before a final pronouncement is issued. The public exposure time varies depending on the complexity of the issue and the circumstances surrounding the need for a new standard. A public file containing drafts of proposed pronouncements, comment letters received during public exposure periods, and summaries of research data are retained for 10 years for public reference.
Select the title below to view a brief summary of the proposal. You also may download a complete copy of the exposure draft.
| TITLE |
COMMENT DUE DATE |
COMMENTS |
|
Proposed Statements on Auditing Standards, Terms of Engagement and Written Representations |
January 15, 2010 |
|
|
Proposed Statements on Auditing Standards, Forming an Opinion and Reporting on Financial Statements; Modifications to the Opinion in the Independent Auditor’s Report; and Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report |
December 31, 2009 |
|
|
Proposed Statements on Auditing Standards, Reporting on Compliance With Aspects of Contractual Agreements or Regulatory Requirements in Connection With Audited Financial Statements (Redrafted) |
December 31, 2009 |
|
|
Proposed Statements on Auditing Standards, Special Considerations—Audits of Financial Statements Prepared in Accordance With Special Purpose Frameworks; and Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts, or Items of a Financial Statement |
December 31, 2009 |
|
|
Proposed Statements on Auditing Standards, Engagements to Report on Summary Financial Statements |
December 31, 2009 |
|
|
Proposed Statements on Auditing Standards, Reporting on Financial Statements Prepared in Accordance With a Financial Reporting Framework Generally Accepted in Another Country |
December 31, 2009 |
|
|
Proposed Statement on Auditing Standards, Related Parties (Redrafted) |
December 15, 2009 |
|
|
Proposed Statement on Auditing Standards, Audits of Group Financial Statements (Including the Work of Component Auditors) |
December 15, 2009 |
|
|
Proposed Statement on Auditing Standards, Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures (Redrafted) |
November 30, 2009 |
|
|
Proposed Statement on Quality Control Standards, A Firm’s System of Quality Control (Redrafted) |
Closed August 31, 2009 |
Letters of Comment |
|
Proposed Statement on Auditing Standards, Quality Control for an Audit of Financial Statements |
Closed August 31, 2009 |
Letters of Comment |
|
Proposed Statement on Auditing Standards, External Confirmations |
Closed August 31, 2009 |
Letters of Comment |
|
Proposed Statements on Standards for Accounting and Review Services: Proposed SSARS, Framework and Objectives for Performing and Reporting on Compilation and Review Engagements; Proposed SSARS, Compilation of Financial Statements; and Proposed SSARS, Review of Financial Statements |
Closed July 31, 2009 |
Letters of Comment |
|
Proposed Statement on Auditing Standards, Subsequent Events and Subsequently Discovered Facts |
Closed July 15, 2009 |
Letters of Comment |
|
Proposed Statement on Auditing Standards, Audit Sampling (Redrafted) |
Closed May 29, 2009 |
Letters of Comment |
|
Proposed Statement on Auditing Standards, Initial Audit Engagements, Including Reaudits —Opening Balances |
Closed May 29, 2009 |
Letters of Comment |
|
Proposed Statements on Auditing Standards, Risk Assessment |
Closed April 30, 2009 |
Letters of Comment |
|
Proposed Statement on Auditing Standards, Consideration of Laws and Regulations in an Audit of Financial Statements |
Closed May 29, 2009 |
Letters of Comment |
|
Proposed Statement on Auditing Standards, Consideration of Fraud in a Financial Statement Audit (Redrafted) |
Closed May 29, 2009 |
Letters of Comment |
|
Proposed Statements on Auditing Standards Required Supplementary Information; Other Information in Documents Containing Audited Financial Statements; and Other Information in Relation to the Financial Statements as a Whole |
Closed May 15, 2009 |
Letters of Comment |
|
Proposed Statement on Auditing Standards Compliance Audits |
Closed April 30, 2009 |
Letters of Comment |
|
Proposed Statement on Standards for Attestation Engagements Reporting on Controls at a Service Organization |
Closed February 17, 2009 |
Letters of Comment |
|
Proposed Statement on Auditing Standards Audit Considerations Relating to an Entity Using a Service Organization (Redrafted) |
Closed February 17, 2009 |
Letters of Comment |