The effective date of the “Information Systems Services” interpretation has been further delayed by the AICPA Professional Ethics Executive Committee, which also issued a temporary policy statement related to employment statutes that may conflict with independence interpretations.
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TOPICS
Ethics
6 ways to make the entire organization care about anti-fraud efforts
Recent conference speaker John Hall, CPA, discusses tangible steps to build a “defensive wall” against fraud and ethics breaches.
Revisions proposed to AICPA ethics code address certain SEC rule changes
The AICPA Professional Ethics Executive Committee issued a proposal Tuesday that addresses provisions in the recently amended SEC independence rules.
Ethics proposals address unpaid fees, standards implementation services
The AICPA Professional Ethics Executive Committee published two exposure drafts on the issues of unpaid fees and accounting standards implementation services for attest clients.
Ethics exposure drafts explained; the makings of a good cover letter
The director of the AICPA’s Professional Ethics Division explains the focus of three upcoming ethics exposure drafts and how the comment process has gotten easier.
Frequently asked risk management questions
This column provides a one-stop guide for common professional liability risk management questions and the resources to help answer them.
NOCLAR proposals aim to help CPAs find the right balance
Proposals by the AICPA Professional Ethics Executive Committee and the AICPA Auditing Standards Board are designed to guide CPAs when they identify or suspect a client’s or employer’s noncompliance with laws or regulations.
House passes bill protecting banking services for legal cannabis
The US House of Representatives passed a bill that would prevent federal prosecution of a depository institution providing banking services to a legitimate cannabis business. Protections also would be provided to provision of ancillary services that are expected to be interpreted to include CPA services.
NOCLAR: Proposals aim to help CPAs find the right balance
It can be difficult for a CPA to decide how to proceed if they identify or suspect a client’s or employer’s noncompliance with laws or regulations. New proposals are designed to help CPAs fulfill their ethical responsibilities.
Ethics considerations for assisting clients with PPP documents
A special crossover episode of the podcast delves into ethical concerns related to assisting clients with PPP loan and forgiveness applications.
PEEC addresses ‘Records Requests,’ limits on loaning staff to attest clients
The AICPA Professional Ethics Executive Committee issued an amendment that clarifies the responsibilities of AICPA members responding to client requests for client-provided records. PEEC also limited firms’ ability to loan staff to attest clients.
New proposals would provide guidance on CPAs’ NOCLAR duties
Complementary proposals by the AICPA Professional Ethics Executive Committee and the AICPA Auditing Standards Board would provide guidance for CPAs on their responsibilities related to noncompliance with laws and regulations.
PEEC reviewing AICPA Code in response to new SEC independence rules
The AICPA Professional Ethics Executive Committee is evaluating whether the AICPA Code of Professional Conduct needs to be revised in light of new SEC rules related to auditor independence requirements.
Companies seek ways to report diversity progress
Investors are looking for actions that back up statements about equity.
AICPA ethics proposal would limit firms’ loaning of staff to attest clients
CPA firms’ ability to loan staff to attest clients would be limited to rare circumstances under a newly proposed AICPA ethics interpretation.
Cannabis and CPAs: The business opportunities and risks
A growing opportunity for CPAs exists in cannabis-related business advising. Along with that comes risk on several fronts.
Records-request duties clarified in AICPA ethics proposal
AICPA members’ responsibilities when responding to client requests for client-provided records would be clarified under a proposal issued by the AICPA Professional Ethics Executive Committee that would amend the “Records Requests” interpretation in the AICPA Code of Professional Conduct.
Effective dates extended for 3 AICPA ethics interpretations
As a result of the coronavirus pandemic, the AICPA Professional Ethics Executive Committee voted to extend by one year the effective dates of AICPA ethics interpretations on information systems services, state and local government client affiliates and leases.
Effective dates of 3 AICPA ethics interpretations may be delayed
The AICPA Professional Ethics Division staff is proposing a one-year delay in ethics interpretations on “Information Systems Services,” “State and Local Government Client Affiliates” and “Leases.”
How auditors can stay independent while advising on revenue recognition
Some private company clients are having difficulty implementing FASB’s revenue recognition standard. CPAs who audit those clients’ financial statements need to proceed carefully to maintain their independence.
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