AICPA comment letters
PwC comment letter (AICPA)
PwC Comments on Proposed AICPA Financial Reporting Framework for Small- and Medium-Sized Entities1/29/13 | Assurance services
PwC fully supports efforts to enhance financial reporting for private companies, and believes that the most appropriate way to achieve meaningful change for private company stakeholders is through the collaborative efforts of the recently established Private Company Council (PCC) and the FASB. However, should the AICPA decide to issue this new non-GAAP framework, our comment letter provides observations and recommendations on changes the AIPCA should make to minimize confusion and enhance clarity. ...
PwC comment letter (AICPA)
PwC Comments on Omnibus Proposal of the AICPA Professional Ethics Division - September 19, 201212/11/12 | Assurance services
PwC supports the PEEC's stated objective of clarifying the circumstances under which the AICPA Code of Professional Conduct applies to services provided by its members. PwC recommends that prior to adopting its proposal, the PEEC should further consider three things: (1) whether the PEEC's proposed revision to the definition of professional services will have the unintended effect of sweeping in services that have no connection with or relationship to the practice of accountancy; ...
PwC comment letter (AICPA)
PwC Comments on Proposed Principles and Criteria for XBRL-Formatted Information8/11/11 | Assurance services
PwC supports the AICPA Assurance Services Executive Committee's decision to develop a set of principles and criteria to evaluate information formatted in XBRL. PwC recommends, however, before finalizing the principles and criteria, the AICPA discuss with the SEC whether the SEC would accept examination reports using the principles and criteria given that they are not meant to be the criteria for evaluating compliance with SEC rules, and also evaluate whether additional feedback from preparers and users should be obtained. PwC also suggested some changes to the principles and criteria.
PwC comment letter (AICPA)
PwC Comments on AICPA Professional Ethics Division Omnibus Proposal - Interpretations and Rulings6/7/11 | Assurance services
PwC is generally in agreement with most of the proposals in the exposure draft and provides some observations that the Firm believes would improve the proposal. With respect to the proposed definition of "confidential client information" in ET Section 92, as well as the proposed revisions to Ethics Ruling No. 2, "Distribution of Client Information to Trade Associations," under Rule 301, PwC believes that the proposed revisions create additional compliance parameters, yet PEEC has provided no evidence of concerns raised by clients or issues or breaches that client companies have raised regarding either violations of the current guidance, or its being inadequate as currently written. PwC, therefore, recommends that the PEEC obtain...
PwC comment letter (AICPA)
PwC Comments on Proposed SSARS, The Applicability of Statements on Standards for Accounting and Review Services11/1/10 | Assurance services
PwC supports the proposed revision of paragraph .01 of AR 90, Review of Financial Statements, such that the SSARS would not apply to a review of interim financial information when the accountant audited the entityÆs latest annual financial statements and the appointment of an auditor to audit the current year financial statements is not effective prior to the beginning of the period covered by the review. ...