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.

    Next Version Uniform CPA Examination
    The AICPA seeks public comment on the Exposure Draft, Maintaining the Relevance of the Uniform CPA Examination. This Exposure Draft is an informed and detailed proposal for the next version of the CPA Exam, which will enhance testing of higher-order cognitive skills critical to the role of a newly licensed CPA. The comment period is September 1, 2015 through November 30, 2015. All Exposure Draft responses received on/before November 30 will be carefully considered by the AICPA as it finalizes Exam blueprints that will ultimately replace the current Content and Skill Specification Outlines (CSOs/SSOs). Once approved, the next version of the Exam will be announced in 2016 and launched in 2017.

    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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    Letters of Comment on Exposure Draft of Proposed SSARSs Addressing Compilations of Prospective and Pro Forma Financial I...

    Overview Comment Letter #1 - Sergio Felipe Mercado P.
    Published on January 27, 2016

    Peer Review Exposure Drafts

    Overview View or download pdf files of exposure drafts and comment letters related to proposed revisions to AICPA Peer Review standards and interpretations.
    Published on December 11, 2015

    Exposure Drafts of Proposed Statements on Standards for Accounting and Review Services

    Exposure Draft Exposure Drafts of Proposed Statements on Standards for Accounting and Review Services (SSARS).
    Published on December 09, 2015

    Proposed Statements on Standards for Accounting and Review Services Compilation of Prospective Financial Information Com...

    Exposure Draft This exposure draft contains three proposed Statements on Standards for Accounting and Review Services: Compilation of Prospective Financial Information; Compilation of Prospective Financial Information; and Omnibus Statement on Standards for Accounting and Review Services—2016. The comment period ends May 6, 2016.
    Published on December 09, 2015

    Proposed Statements on Standards for Accounting and Review Services Compilation of Prospective Financial Information Com...

    Exposure Draft This exposure draft contains three proposed Statements on Standards for Accounting and Review Services: Compilation of Prospective Financial Information; Compilation of Prospective Financial Information; and Omnibus Statement on Standards for Accounting and Review Services—2016. The comment period ends May 6, 2016.
    Published on December 09, 2015

    Peer Review November 2015 Exposure Draft Improving Transparency and Effectiveness of Peer Review

    Exposure Draft Download a pdf file of the Peer Review November 2015 Exposure Draft: Improving Transparency and Effectiveness of Peer Review
    Published on November 19, 2015

    QCM/CPE Peer Review Standards Exposure Draft Comment Letters Received

    Comment Letters Download any of the comment letters received in response to the QCM/CPE Exposure Draft of the AICPA Standards for Performing and Reporting on Peer Reviews.
    Published on November 11, 2015

    Letters of Comment on Exposure Draft of Proposed SAS, Amendment to SAS 122 section 700

    Overview Comment Letter #1 - Laura Lindal Comment Letter #2 - Piercy Bowler Taylor & Kern Comment Letter #3 - McGladrey Comment Letter #4 - NC State Board of CPA Examiners Comment Letter #5 - Illinois CPA Society Comment Letter #6 - Ernst & Young LLP
    Published on October 06, 2015

    Exposure Drafts

    Exposure Draft 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
    Published on September 01, 2015

    Proposed SAS, Amendment to Statement on Auditing Standards No. 122 section 700, Forming an Opinion and Reporting on Fina...

    Exposure Draft This SAS creates AU-C section 940 and, upon the effective date, withdraws AT section 501, An Examination of an Entity’s Internal Control Over Financial Reporting That Is Integrated With an Audit of Its Financial Statements, in AICPA Professional Standards; Comment period ends September 30, 2015.
    Published on August 17, 2015

    Peer Reviewer Performance Exposure Draft Comment Letters

    Comment Letters Download a pdf file of the Peer Reviewer Performance Exposure Draft Comment Letters.
    Published on February 02, 2015

    Preparation Services Exposure Draft Comment Letters

    Comment Letters Download a pdf file of the Preparation Services Exposure Draft Comment Letters.
    Published on February 02, 2015

    Letters of Comment on Exposure Draft of Proposed SSAE, Reporting on an Examination of Controls at a Service Organization...

    Comment Letters Letters of Comment on Exposure Draft of Proposed SSAE, Reporting on an Examination of Controls at a Service Organization Relevant to User Entities' Internal Control Over Financial Reporting: Clarification and Recodification
    Published on January 30, 2015

    Peer Review November 2014 Exposure Draft - Peer Reviewer Performance, Disagreements and Qualifications

    Exposure Draft Peer Review Exposure Draft: Download a pdf file of the Peer Review November 2014 Peer Reviewer Performance, Disagreements and Qualifications Exposure Draft.
    Published on November 20, 2014

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

    Exposure Draft Peer Review Exposure Draft: Download a pdf file of the Peer Review November 2014 Preparation of Financial Statements Performed Under SSARS and the Impact on the Scope of Peer Review Exposure Draft.
    Published on November 20, 2014

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