ET Appendix A 


    Council Resolution Designating Bodies to Promulgate Technical Standards

    [As amended January 12, 1988; Revised April 1992, October 1999, May 2004, October 2007, May 2008, October 2012 and May 2013.]

    Federal Accounting Standards Advisory Board

    RESOLVED: That the Federal Accounting Standards Advisory Board, with respect to its statements of federal accounting standards and concepts adopted and issued in March of 1993 and subsequently, in accordance with its rules of procedure, the memorandum of understanding and public notice designating the FASAB's standards and concepts as having substantial authoritative support, be, and hereby is, designated by the Council of the American Institute of Certified Public Accountants as the body to establish financial accounting principles for federal governmental entities pursuant to rule 203 [ET section 203.01].

    [Added by Council, October 1999.]

    Financial Accounting Standards Board

    WHEREAS: In 1959 the Council designated the Accounting Principles Board to establish accounting principles, and

    WHEREAS: The Council is advised that the Financial Accounting Standards Board (FASB) has become operational, it is

    RESOLVED: That as of the date hereof the FASB, in respect of statements of financial accounting standards finally adopted by such board in accordance with its rules of procedure and the bylaws of the Financial Accounting Foundation, be, and hereby is, designated by this Council as the body to establish accounting principles pursuant to rule 203 [ ET section 203.01] and standards on disclosure of financial information for such entities outside financial statements in published financial reports containing financial statements under rule 202 [ ET section 202.01] of the Rules of the Code of Professional Conduct of the American Institute of Certified Public Accountants provided, however, any accounting research bulletins, or opinions of the accounting principles board issued or approved for exposure by the accounting principles board prior to April 1, 1973, and finally adopted by such board on or before June 30, 1973, shall constitute statements of accounting principles promulgated by a body designated by Council as contemplated in rule 203 [ ET section 203.01] of the Rules of the Code of Professional Conduct unless and until such time as they are expressly superseded by action of the FASB.

    Governmental Accounting Standards Board

    WHEREAS: The Governmental Accounting Standards Board (GASB) has been established by the board of trustees of the Financial Accounting Foundation (FAF) to issue standards of financial accounting and reporting with respect to activities and transactions of state and local governmental entities, and

    WHEREAS: The American Institute of Certified Public Accountants is a signatory to the agreement creating the GASB as an arm of the FAF and has supported the GASB professionally and financially, it is

    RESOLVED: That as of the date hereof, the GASB, with respect to statements of governmental accounting standards adopted and issued in July 1984 and subsequently in accordance with its rules of procedure and the bylaws of the FAF, be, and hereby is, designated by the Council of the American Institute of Certified Public Accountants as the body to establish financial accounting principles for state and local governmental entities pursuant to rule 203 [ ET section 203.01], and standards on disclosure of financial information for such entities outside financial statements in published financial reports containing financial statements under rule 202 [ ET section 202.01].

    Public Company Accounting Oversight Board

    WHEREAS: The Public Company Accounting Oversight Board (PCAOB) has been established pursuant to the Sarbanes-Oxley Act of 2002 (the Act), and

    WHEREAS: The PCAOB has authority under the Act to establish or adopt, or both, by PCAOB rule, auditing and related attestation standards, quality control, ethics, independence and other standards relating to the preparation and issuance of audit reports for issuers as defined in the Act.

    RESOLVED: That the PCAOB be, and hereby is, designated by the Council of the American Institute of Certified Public Accountants as the body to establish standards relating to the preparation and issuance of audit reports for entities within its jurisdiction as defined by the Act pursuant to rules 201 [ ET section 201.01] and 202 [ ET section 202.01].

    [Added by Council, May 2004.]

    International Accounting Standards Board

    RESOLVED: That the International Accounting Standards Board (IASB) is hereby designated as the body to establish professional standards with respect to international financial accounting and reporting principles pursuant to Rule 202 [ ET section 202.01] and Rule 203 [ ET section 203.01]; and

    BE IT FURTHER RESOLVED: That the Council shall reassess, no sooner than three years but no later than five years after the effective date of this resolution, whether continued recognition of the IASB as the body designated to establish professional standards with respect to international financial accounting and reporting principles under Rule 202 [ ET section 202.01] and Rule 203 [ ET section 203.01] is appropriate.

    [Added by Council, May 18, 2008; readopted by Council, May 19, 2013.]

    AICPA COMMITTEES AND BOARDS

    WHEREAS: The membership of the Institute has adopted rules 201 [ ET section 201.01] and 202 [ ET section 202.01] of the Rules of the Code of Professional Conduct, which authorizes the Council to designate bodies to promulgate technical standards with which members must comply, and therefore it is

    Accounting and Review Services Committee

    RESOLVED: That the AICPA accounting and review services committee is hereby designated to promulgate standards under rules 201 [ET section 201.01] and 202 [ ET section 202.01] with respect to unaudited financial statements or other unaudited financial information of an entity that is not required to file financial statements with a regulatory agency in connection with the sale or trading of its securities in a public market.

    Auditing Standards Board

    RESOLVED: That with respect to standards relating to the preparation and issuance of audit reports not included within the resolution on the Public Company Accounting Oversight Board, the AICPA auditing standards board is hereby designated as the body authorized under rules 201 [ ET section 201.01] and 202 [ ET section 202.01] to promulgate auditing, attestation, and quality control standards and procedures.

    RESOLVED: That the auditing standards board shall establish under statements on auditing standards the responsibilities of members with respect to standards for disclosure of financial information outside of the financial statements in published financial reports containing financial statements.

    [Revised May 2004.]

    Management Consulting Services Executive Committee

    RESOLVED: That the AICPA management consulting services executive committee is hereby designated to promulgate standards under rules 201 [ ET section 201.01] and 202 [ ET section 202.01] with respect to the offering of management consulting services, provided, however, that such standards do not deal with the broad question of what, if any, services should be proscribed.

    AND FURTHER RESOLVED: That any Institute committee or board now or in the future authorized by the Council to issue enforceable standards under rules 201 [ ET section 201.01] and 202 [ ET section 202.01] must observe an exposure process seeking comment from other affected committees and boards, as well as the general membership.

    [Revised April 1992.]

    Attestation Standards

    RESOLVED: That the AICPA accounting and review services committee, auditing standards board, and management consulting services executive committee are hereby designated as bodies authorized under rules 201 [ ET section 201.01] and 202 [ ET section 202.01] to promulgate attestation standards in their respective areas of responsibility.

    [Added by Council, May 1988; revised April 1992.]

    Tax Executive Committee

    RESOLVED: That the Tax Executive Committee is hereby designated as the body authorized under AICPA Rules 201 [ ET section 201.01] and 202 [ ET section 202.01] to promulgate professional practice standards with respect to tax services.

    [Added by Council, October 1999.]

    Forensic and Valuation Services Executive Committee

    RESOLVED: That the Forensic and Valuation Services Executive Committee is hereby designated as the body to promulgate professional standards with respect to forensic and valuation services under Rules 201 [ ET section 201.01] and 202 [ ET section 202.01].

    [Added by Council, October 2007]

    Personal Financial Planning Executive Committee

    RESOLVED: That the Personal Financial Planning Executive Committee is hereby designated as the body to promulgate professional standards with respect to personal financial planning services under Rules 201 [ ET section 201.01] and 202 [ ET section 202.01].

    [Added by Council, October 2012]

     

     




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