Interpretation to SSARS No. 1 issued. (accounting & auditing news).The Accounting and Review Services Committee issued an interpretation titled Applicability of SSARS SSARS Statements on Standards for Accounting and Review Services No. 1 When Performing Controllership or Other Management Services. The interpretation would require an accountant A person who has the requisite skill and experience in establishing and maintaining accurate financial records for an individual or a business. The duties of an accountant may include designing and controlling systems of records, auditing books, and preparing financial statements. in the practice of public accounting, as defined by the AICPA's Code of Conduct [ET section 92.23], and who is not a stockholder, partner, director, officer or employee of the entity, to follow the performance and communication requirements of SSARS No. 1. If the accountant is in the practice of public accounting and is a stockholder, partner, director, officer or employee of the entity, the accountant may (1) comply with the requirements of SSARS No. 1, or (2) communicate, preferably pref·er·a·ble adj. More desirable or worthy than another; preferred: Coffee is preferable to tea, I think. pref in writing, the accountant's relationship to the entity. The interpretation includes an example of a written communication. As a result of the interpretation, the Professional Ethics professional ethics, n the rules governing the conduct, transactions, and relationships within a profession and among its publics. professional ethics liability, n 1. Executive Committee agreed to make conforming con·form v. con·formed, con·form·ing, con·forms v.intr. 1. To correspond in form or character; be similar. 2. changes to ET Section 291, Ethics Rulings on General and Technical Standards. The interpretation is currently available on: [computer] www.aicpa.org/members/div/ auditstd/interp_ar_9100.htm |
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