SOP Issued for reporting on AIMR standards. (accounting & auditing news).Statement of Position 01-4, Reporting Pursuant to the Association for Investment Management and Research Performance Presentation Standards (No. 014931CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. 12), has been issued by the Auditing Standards Board In the United States, the Auditing Standards Board (ASB) is the senior technical committee designated by the American Institute of Certified Public Accountants (AICPA) to issue auditing, attestation, and quality control statements, standards and guidance to certified public . In May 2001, the Association for Investment Management and Research issued revised Performance Presentation Standards (PPS (Packets Per Second) The measurement of activity in a local area network (LAN). In LANs such as Ethernet, Token Ring and FDDI, as well as the Internet, data is broken up and transmitted in packets (frames), each with a source and destination address. standards); these standards can be downloaded from the AIMR AIMR See Association for Investment Management and Research (AIMR). Web site at www.aimr.org. SOP 01-4 provides guidance on the application of statements on standards for attestation engagements to engagements on reporting pursuant to the AIMR-PPS standards. This SOP supersedes two AICPA AICPA See American Institute of Certified Public Accountants (AICPA). Notices to Practitioners: Examination Engagements to Report on Investment Performance Statistics Based on Established or Stated Criteria, issued by the AICPA's Investment Companies Committee in Nov. 1995; and Engagements to Report on Performance Presentation Standards of the Association for Investment Management and Research, issued by the AICPA Auditing Standards Division in July 1993. It also supersedes paragraphs 11.18 through 11.22 of the AICPA Audit and Accounting Guide Audits of Investment Companies, Chapter 11, "Independent Auditor's Reports Auditor's Report Recorded in the annual report, the auditor's report tests to see that a corporation's financial statements comply with GAAP. This is sometimes referred to as the clean opinion. Notes: Most auditor's reports consist of three paragraphs. and Management Representations." SOP 01-4 is effective for engagements to examine or report on aspects of an investment firm's compliance with, and/or examining and reporting on specific composite results in conformity with, the redrafted AIMR-PPS standards. The SOP may not be applied to engagements in which the investment firm has not yet adopted the redrafted AIMRPPS standards. To order a copy of SOP 01-4, contact the CPA2Biz Customer Service Center (see page 7; price: Dual AICPA/state society member, $12.80; AICPA member, $13.60; state society member, $14.40; non-member, $16). |
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