Tax standard on quality control exposed for comments.

The AICPA Tax Executive Committee recently voted to expose for public comment proposed Statement on Standards for Tax Services No. 9, Quality Control. In light of tax season, the comment period has been extended to Aug. 31, 2006.

The concept of quality control has always been the backbone of every CPA firm. This is evidenced by the long-standing and well-established principles outlined in Statement of Quality Control Standards No. 2, System of" Quality, Control for a CPA Firm's Accounting and Auditing Practice (AICPA, Professional Standards, vol. 2, QC sec. 20), as amended, including the five elements of quality control that apply to accounting and auditing practices. This proposed Statement on Standards for Tax Services is based on these sound principles.

Since the adoption of SSTSs in 2000, some members have expressed concern over the lack of a quality control standard to guide them in implementing the original eight standards into their tax practice or function. Although the Tax Division did address this concern by publishing its Tax Practice Quality Control Guide in 2002, the recent changes to Treasury Department Circular No. 230, in particular section 10.33, "Best Practices," and section 10.36. "Procedures to Ensure Compliance," highlighted the need for a standard to provide additional guidance to help members be responsive to the rapid changes and complexity of our tax system. When coupled with the recently heightened penalty and sanction authority granted to the IRS Office of Professional Responsibility, the committee believed exposure of this proposed SSTS was critical.

To obtain the proposal, visit: Websit: www.aicpa.org/tax/SSTS9ExposureDraft