Exposure Drafts 

    Auditing and Attestation
    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 ASB utilizes a process that includes deliberation in meetings open to the public, public exposure of proposed statements, and a formal vote. The Accounting and Review Services Committee (ARSC) also develops and issues Statements on Standards for Attestation Engagements through the same process. 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.

    Compilation and Review
    The Accounting and Review Services Committee (ARSC) develops and issues standards in the form of Statements on Standards for Accounting and Review Services. The ARSC utilizes 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.

    Peer Review
    The AICPA Peer Review Board (PRB) is responsible for developing and issuing the AICPA Standards for Performing and Reporting on Peer Reviews (Standards) and Interpretations to the Standards and for monitoring those standards and making revisions as needed. The PRB utilizes a process that includes deliberation in meetings open to the public, public exposure of proposed standards and a formal vote. Exposure Drafts of these Standards 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.

    Personal Financial Planning
    The Personal Financial Planning Executive Committee (PFP EC) is responsible for developing, issuing, monitoring and revising as needed the AICPA Statement on Standards in Personal Financial Planning Services and interpretations of those standards. The PFP EC utilizes a process that includes deliberation in meetings open to the public, when deemed to be beneficial to the process, public exposure of proposed standards, and a formal vote. Exposure drafts of these standards 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.

    Professional Ethics
    The Professional Ethics Executive Committee (PEEC) is responsible for promulgating new ethics interpretations and rulings, and for monitoring those standards and making revisions as needed. The PEEC utilizes a process that includes deliberation in meetings open to the public, public exposure of proposed standards, and a formal vote. Exposure Drafts 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. Once adopted, the standard becomes effective the last day of the month in which the standard is published in The Journal of Accountancy, unless stated otherwise.

    Tax
    The Tax Executive Committee (TEC) is responsible for developing and issuing the AICPA Statements on Standards for Tax Services and interpretations of those standards and for monitoring those standards and interpretations and making revisions as needed. The TEC utilizes a process that includes deliberation in meetings open to the public, public exposure of proposed standards and interpretations, and a formal vote. Exposure Drafts of these standards and interpretations 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 or interpretation.

     

     

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    Proposed Statement on Auditing Standards An Audit of Internal Control Over Financial Reporting That Is Integrated With a...

    Exposure Draft This Proposed Statement on Auditing Standards  creates AU-C sec. 940 in AICPA Professional Standards, amends various sections in SAS No. 122, Statements on Auditing Standards: Clarification and Recodification (AICPA, Professional Standards, AU-C secs. 200, 265, 315, 402, 600, 905, and 935), and withdraws SSAE No. 15, An Examination of an
    Published on September 23, 2014

    Proposed Statement on Standards for Attestation Engagements Reporting on an Examination of Controls at a Service Organiz...

    Exposure Draft This Proposed Statement on Standards for Attestation Engagements supersedes AT section 801 in AICPA Professional Standards; Comment period ends December 18, 2014.
    Published on September 18, 2014

    Mapping of Paragraphs in Extant AT Section 801, Reporting on Controls at a Service Organization,to the Proposed Clarifie...

    Exposure Draft This mapping document identifies the disposition of the requirements in extant AT section 801 within chapter 8 and within chapters 1-4 of the proposed attestation standards.
    Published on September 18, 2014

    Disposition of Paragraphs in Extant AT Section 501, An Examination of an Entitys Internal Control Over Financial Reporti...

    Exposure Draft This mapping document identifies the disposition of paragraphs in extant AT section 501 within the proposed Statement on Auditing Standards, An Audit of Internal Control Over Financial Reporting That is Integrated With an Audit of Financial Statements
    Published on September 10, 2014

    Peer Review August 2014 Exposure Draft - Preparation of Financial Statements Performed Under SSARS and the Impact on the...

    Exposure Draft Download a pdf file of the Peer Review August 2014 Exposure Draft - Preparation of Financial Statements Performed Under SSARS and the Impact on the Scope of Peer Review.
    Published on August 21, 2014

    Peer Review Exposure Drafts

    Exposure Draft Download pdf files of exposure drafts and comment letters related to the AICPA Peer Review Board.
    Published on August 18, 2014

    ER Pwd vs Fail Exposure Draft Comment Letter

    Comment Letters View or download the comment letters on the ER Pwd vs Fail Exposure Draft Comment Letter.
    Published on July 16, 2014

    Letters of Comment on Exposure Draft of Proposed Statement on Standards for Attestation Engagements, Subject-Matter Spec...

    Article Comment Letter # 1    -   Mark Hogan, MBA,CPA Comment Letter # 2    -   David Brammer, Legislative Audit Division, State of Montana Comment Letter # 3    -   Barb Hinton - Washington State Auditor Comment Letter # 4    -   Na
    Published on June 24, 2014

    Letters of Comment on Exposure Draft of Proposed SSARSs Preparation of Financial Statements Compilation Engagements and ...

    Overview Written Comments on the exposure draft will become part of the public record of the AICPA and will be available for public inspection at the offices of the AICPA after May 2, 2014, for 1 year.  Responses should be sent to Mike Glynn at mglynn@aicpa.org and should be received by
    Published on May 30, 2014

    Peer Review May 2014 Exposure Draft - Pass With Deficiences vs. Fail Report for Engagement Reviews

    Exposure Draft This Exposure Draft that proposes changes to eliminate an exception made for firms that undergo an Engagement Review.  The current guidance states that when there is more than one engagement submitted for review, the same exact deficiency occurs on each of
    Published on May 19, 2014

    Letters of Comment on Exposure Draft of Proposed SSARS Framework for Performing and Reporting on Compilation and Review ...

    Overview Written Comments on the exposure draft will become part of the public record of the AICPA and will be available for public inspection at the offices of the AICPA after May 2, 2014, for 1 year.  Responses should be sent to Mike Glynn at mglynn@aicpa.org and should be received by
    Published on May 06, 2014

    Letters of Comment on Exposure Draft of Proposed Statement on Standards for Attestation Engagements, Attestation Standar...

    Article Comment Letter # 1 - Pennsylvania Institute of Certified Public Accountants Comment Letter # 2 - NASBA Comment Letter # 3 - NSAA Comment Letter # 4 - Commonweatlh of Virginia Comment Letter # 5 - Abraham D. Akresh Comment Letter # 6 -
    Published on April 24, 2014

    Letters of Comment on Exposure Draft of Proposed SSARSs Review of Financial Statements and Review of Financial Statement...

    Overview Written Comments on the exposure draft will become part of the public record of the AICPA and will be available for public inspection at the offices of the AICPA after April 26, 2013, for 1 year.  Responses should be sent to Mike Glynn at mglynn@aicpa.org and should be received by
    Published on April 24, 2014

    Exposure Drafts of Proposed SASs, SSAEs, and SQCSs

    Exposure Draft Auditing Standards Board Exposure Drafts of Proposed Statements.
    Published on April 16, 2014

    Proposed Statement on Standards for Attestation Engagements, Subject-Matter Specific Attestation Standards Clarification...

    Exposure Draft This Proposed Statement on Standards for Attestation Engagements supersedes AT sections 301, 401, and 601 in AICPA Professional Standards; Comment period ends May 27, 2014.
    Published on March 24, 2014

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