ARSC proposes update to standard on reviews

An exposure draft adjusts requirements and guidance for supplementary information.

The AICPA's standard on reviews of financial statements would change under a new proposal.

The AICPA Accounting and Review Services Committee (ARSC) issued an exposure draft, Proposed Statement on Standards for Accounting and Review Services (SSARS), Amendment to Statement on Standards for Accounting and Review Services No. 21 Section 90, Review of Financial Statements.

AR-C Section 90 includes requirements and guidance when supplementary information accompanies reviewed financial statements and the accountant's review report thereon. ARSC determined that certain revisions are necessary to correct the requirements and guidance related to reporting on supplementary information.

These revisions would be accomplished by amending paragraphs .05 and .80—.82 of AR-C Section 90, Review of Financial Statements, and the corresponding application paragraphs.

Comments are due Sept. 2 and can be sent to Mike Glynn at


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