In our comments responding to the AICPA Accounting and Review Services Committee’s proposed Statement on Standards for Accounting and Review Services, Applicability of AR-C Section 70 to Financial Statements Prepared as Part of a Consulting Services Engagement, we believe the proposed amendments would clarify the fact that client advisory service engagements including the preparation of financial statements would not be required to adhere to the provisions of AR-C Section 70. However, we also suggest certain revisions that are designed to streamline the proposed language and to provide helpful context to users.
Download our letter to read our comments in full.
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