American Institute of Certified Public Accountants (AICPA)


The AICPA represents the CPA profession nationally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the profession’s technical and ethical standards.

Recent Developments – Past 90 days

PwC resources

Industry update – Highlights From AICPA’s Conference On Regulatory Developments
PwC Partner Beth Paul discusses internal control over financial reporting, the need for adequate talent in the accounting profession, and other themes from the 2016 AICPA National Conference on current SEC & PCAOB developments.

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Select News Releases

AICPA issues SSARS No. 23, Omnibus Statement on Standards for Accounting and Review Services - 2016
AICPA - 10/26/2016
SSARS No. 23 amends and clarifies AR-C section 60, General Principles for Engagements Performed in Accordance With Statements on Standards for Accounting and Review Services, AR-C section 70, Preparation of Financial Statements, AR-C section 80, Compilation Engagements, and AR-C section 90, Review of Financial Statements.

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Exposure Drafts

Proposed revised and new interpretations applicable to members in business
AICPA - 01/09/2017
The AICPA Professional Ethics Executive Committee is exposing for comment, revisions to the “Knowing Misrepresentations in the Preparation of Financial Statements or Records” interpretation (ET sec 2.130.010) under the “Integrity and Objectivity Rule” (ET sec. 2.100.001), applicable to members in business.

Comments are due April 17, 2017.

AICPA proposes revised definitions of client and attest client as well as related definitions, interpretations and other guidance
AICPA - 12/15/2016
The Professional Ethics Executive Committee (committee) is exposing for comment revisions to the definitions of “Client” (ET sec. 0.400.07) All ET sections can be found in AICPA, Professional Standards. and “Attest Client” (ET sec. 0.400.03), including the relocation of the government provision from the definition of “Client” to the “Simultaneous Employment or Association With an Attest Client” interpretation (ET sec. 1.275.005) under the Independence Rule (ET sec. 1.200.001).

Comments are due May 15, 2017.

AICPA proposes new description criteria for managment's description of an entity's cybersecurity risk management program
AICPA - 09/15/2016
The AICPA is developing a new engagement that CPAs can use to assist boards of directors, senior management, and other pertinent stakeholders as they evaluate the effectiveness of an entity’s cybersecurity risk management program. This exposure draft details this engagement.

Comments are due December 5, 2016. 

AICPA proposes revision of trust services criteria for security, availability, processing integrity, confidentiality and privacy
AICPA - 09/15/2016
ASEC is reorganizing and revising the extant trust services criteria to more closely align with the 17 principles in Internal Control—Integrated Framework, in the COSO 2013 framework. This exposure draft illustrates those changes.

Comments are due December 5, 2016. 

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PwC comment letters

PwC comments on ASEC’s proposed revision of its trust services criteria
AICPA - 12/06/2016
PwC supports efforts to align ASEC’s trust services criteria with COSO and address cybersecurity risks.

PwC comments on ASEC’s proposed description criteria for cybersecurity
AICPA - 12/06/2016
PwC believes flexibility is necessary to increase reporting on cybersecurity and demand for attestation engagements.

PwC comments on AICPA’s proposed standard on going concern
AICPA - 09/02/2016
PwC supports the proposed standard to clarify the auditor’s responsibility when assessing going concern.

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