Independence and Ethics 


    When performing financial statement audits, financial statement reviews, and other attest services defined in the Statements on Standards for Attestation Engagements, it is critical to understand and maintain one's independence in accordance with Rule 101, Independence. AICPA publications provide information on recent developments and guidance to assist practitioners when performing these professional services, including
    • current practice environment.
    • AICPA independence developments (including recently issued and withdrawn guidance).
    • compliance reminders regarding Securities and Exchange Commission (SEC), Public Company Accounting Oversight Board (PCAOB), Government Accountability Office (GAO), and Federal Deposit Insurance Corporation independence requirements.
    • proposed independence requirements and outstanding projects of the Professional Ethics Executive Committee.
    • management’s responsibilities when performing nonattest services
    • member’s responsibility regarding request for records
    • independence rules involving affiliates
    • useful resources on independence requirements.
    • a plain English digest of the AICPA independence rules.

    Alert Independence and Ethics Developments

    Availability


    Publication Excerpts (available to AICPA members)


    Practice Aid 2011 Yellow Book Independence - Non Audit Services Documentation

    Availability


    AICPA members can download the practice aid for free. Additionally, members and nonmembers can purchase an electronic version of the practice aid from the AICPA Store that can be prepared and saved as part of the auditor’s documentation. Additional resources are also available from the GAQC.


    Audit and Accounting Manual

    Availability


    AICPA Online Professional Library

    When you subscribe to any one of the many subscription options on AICPA Online Professional Library, you're not only getting access to the most up-to-date guidance and tools, you are also linked to all of the relevant and related literature, including the FASB and GASB libraries.

    Many publications and libraries may be of value to those interested in guidance related to independence and ethics:




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