ARSC issues interpretation on special-purpose financial statements to comply with contractual agreements or regulatory provisions.

The Accounting and Review Services Committee has issued Interpretation No. 28 to AR section 100. That interpretation, "Special Purpose Financial Statements to Comply with Contractual Agreements or Regulatory reg·u·late
tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates
1. To control or direct according to rule, principle, or law.

2. Provisions," provides accountants with guidance as to how they should modify the standard compilation Compiling a program. See compiler. or review report when reporting on special-purpose financial statements.

The interpretation is available at www.aicpa.org/Professional+ Resources/Accounting+and+Auditing/Audit+and+Attest To solemnly declare verbally or in writing that a particular document or testimony about an event is a true and accurate representation of the facts; to bear witness to. To formally certify by a signature that the signer has been present at the execution of a particular writing so as +Standards/ Authoritative+Standards+and+Related+Guidance+for+NonIssuers/ Recently+Issued+Compilation+and+Review+Interpretations+of+the+SSARSs.htm.

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Publication:	CPA Letter
Date:	Feb 1, 2007
Words:	85
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Topics:	Financial statements

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