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 Statement on Quality Control Standards, A Firm’s System of Quality Control (Redrafted)	August 31, 2009
Proposed Statement on Auditing Standards, Quality Control for an Audit of Financial Statements	August 31, 2009
Proposed Statement on Auditing Standards, External Confirmations	August 31, 2009
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	July 31, 2009	Letters of Comment
Proposed Statement on Auditing Standards, Subsequent Events and Subsequently Discovered Facts	July 15, 2009
Proposed Statement on Auditing Standards, Audit Sampling (Redrafted)	May 29, 2009	Letters of Comment
Proposed Statement on Auditing Standards, Initial Audit Engagements, Including Reaudits —Opening Balances	May 29, 2009	Letters of Comment
Proposed Statements on Auditing Standards, Risk Assessment	April 30, 2009	Letters of Comment
Proposed Statement on Auditing Standards, Consideration of Laws and Regulations in an Audit of Financial Statements	May 29, 2009
Proposed Statement on Auditing Standards, Consideration of Fraud in a Financial Statement Audit (Redrafted)	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	May 15, 2009	Letters of Comment
Proposed Statement on Auditing Standards Compliance Audits	April 30, 2009	Letters of Comment
Proposed Statement on Standards for Attestation Engagements Reporting on Controls at a Service Organization	February 17, 2009	Letters of Comment
Proposed Statement on Auditing Standards Audit Considerations Relating to an Entity Using a Service Organization (Redrafted)	February 17, 2009	Letters of Comment
Proposed Preface to Codification of Statements on Auditing Standards, Principles Governing an Audit Conducted in Accordance With Generally Accepted Auditing Standards, and Proposed Statement on Auditing Standards Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards	Closed December 30, 2008	Letters of Comment
Exposure Draft of 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, for Nongovernmental Entities	Closed June 27, 2005	Letters of Comment