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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    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 Exposure Drafts

    Exposure Draft Download pdf files of exposure drafts and comment letters related to the AICPA Peer Review Board.
    Published on May 19, 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

    Letters of Comment on Exposure Draft of Proposed SAS, Amendment to AU-C Section 920

    Article Comment Letter # 1 - Legislative Audit Division Comment Letter # 2 - McGladrey Comment Letter # 3 - PricewaterhouseCoopers LLP Comment Letter # 4 - Deloitte & Touche LLP Comment Letter # 5 - BDO Comment Letter # 6 - PCPS Comment Letter # 7 -
    Published on April 23, 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

    Proposed Statement on Standards for Attestation Engagements, Attestation Standards Clarification and Recodification

    Exposure Draft This Proposed Statement on Standards for Attestation Engagements supersedes AT sections 20, 50, 101, and 201 in AICPA Professional Standards; Comment period ends October 24, 2013.
    Published on March 24, 2014

    Proposed Amendment to AU-C 920 Supplementary Document

    Exposure Draft This supplementary document shows the proposed amendments to AU-C section 920, in Proposed SAS, Amendment to Statement on Auditing Standards No. 122, Statements on Auditing Standards: Clarification and Recodification, section 920, Letters for Underwriters and Certain Other Requesting Parties, as amended, in the context of the entirety of AU-C section
    Published on February 12, 2014

    Proposed Statement on Auditing Standards, Amendment to SAS No. 122 section 920, as Amended

    Exposure Draft Amends AU-C Section 920, Letters for Underwriters and Certain Other Requesting Parties, to further clarify the standard, help auditors in implementation, and avoid unintended changes to previous practice.
    Published on February 12, 2014

    Proposed Clarified Subject Matter Specific Attestation Standards Mapping Document (3 of 3)

    Exposure Draft This mapping document shows the disposition of the paragraphs in AT section 601 to chapter 7, “Compliance Attestation,” of the proposed SSAE, Subject-Matter Specific Attestation Standards: Clarification and Recodification
    Published on January 28, 2014

    Proposed Clarified Subject Matter Specific Attestation Standards Mapping Document (2 of 3)

    Exposure Draft This mapping document shows the disposition of the paragraphs in AT section 401 to chapter 6, “Reporting on Pro Forma Financial Information,” of the proposed SSAE, Subject-Matter Specific Attestation Standards: Clarification and Recodification.
    Published on January 28, 2014

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