Revisions made to ethics interpretation on nonattest services based on member feedback.At its Jan. meeting, 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 adopted revisions to Interpretation 101-3-Performance of Nonattest Services, to provide clarification on the applicability and intent of the rule and ensure its continued effectiveness in promoting independence when a member renders nonattest services to an 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 client. The revisions do not relax the rule or change its meaning. The committee believed these changes were necessary and appropriate after it became evident, based on feedback from a significant number of members, that a number of Interpretation 101-3's requirements warranted further clarification regarding client competency COMPETENCY, evidence. The legal fitness or ability of a witness to be heard on the trial of a cause. This term is also applied to written or other evidence which may be legally given on such trial, as, depositions, letters, account-books, and the like. 2. , documentation of understanding, and routine activities. In concert with the revisions, two additional FAQs have been posted to the AICPA AICPA See American Institute of Certified Public Accountants (AICPA). Web site focusing on bookkeeping bookkeeping, maintenance of systematic and convenient records of money transactions in order to show the condition of a business enterprise. The essential purpose of bookkeeping is to reveal the amounts and sources of the losses and profits for any given period. services and "management functions." The revised Interpretation can be found online at: [email] www.aicpa.org/members/div/ethics/intr_10l-3.htm |
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