Survey being conducted on independence in compilation engagements.

Due to the evolving complexity of the independence standards as codified in the AICPA Code of Professional Conduct, the Accounting and Review Services Committee is seeking input from CPAs, their clients and third-party users of compiled financial statements regarding the need for independence when performing compilation engagements.

To gather this feedback, the ARSC has issued a survey entitled "Need for Independence in Compilation Engagements." The survey sets forth specific questions for which the ARSC would like to receive comments before it further considers the independence requirements related to compilation engagements.

The ARSC welcomes responses and comments to the survey from all interested parties. Comments may be submitted directly through the electronic survey or may be sent via electronic mail to Michael Glynn at [e-mail] by May 19, 2006.

After consideration of comments received, the ARSC plans a public meeting to decide whether it should undertake a project to revisit the need for independence when performing a compilation engagement, and if required, how the impairment of a practitioner's independence should best be communicated in the compilation report. To access the survey, click on the blue tab at www.aicpa.org/members/div/auditstd/index.htm.