Federal Tax Policy 

Advocacy That Makes a Difference

The TXCPA Federal Tax Policy Committee is dedicated to advocating for our members and the accounting profession at the national level. Our team of experienced professionals reviews federal tax legislation, regulations, and administrative pronouncements to ensure your voice is heard in Washington. Through proactive engagement, we provide thoughtful feedback and expert input to policymakers, striving to shape fair and effective tax policy that supports the needs of our members and the broader accounting community.

What We Do

  • Analyze proposed federal tax laws and regulations for their impact on our members and the profession.
  • Submit formal letters, comments, and recommendations to key government agencies and officials.
  • Keep TXCPA members informed about critical policy developments and opportunities for engagement.
  • Represent the collective expertise and interests of Texas CPAs in the federal policy-making process.

Response Letters and Articles

We are committed to transparency and keeping you updated on our advocacy efforts. View the most recent letters submitted by the Federal Tax Policy Committee, as well as articles drafted on recent federal tax issues here.

Protect the CPA Profession

Protect and promote the profession—contribute to the member-managed, member-driven, and member-focused TXCPA PAC and ensure CPAs have a strong voice in Texas.

TXCPA PAC

AICPA ARSC 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

  • Published on Nov 20, 2024

We appreciate the opportunity to provide feedback on the proposed Statement on Standards for Accounting and Review Services (SSARS), Applicability of AR-C Section 70 to Financial Statements Prepared as Part of a Consulting Services Engagement, dated September 23, 2024. If issued as final, the proposed SSARS will amend SSARS No. 21, Statement on Standards for Accounting and Review Services: Clarification and Recodification, as amended, AR-C section 70, Preparation of Financial Statements.

The views expressed herein are written on behalf of the Professional Standards Committee (PSC) of the Texas Society of CPAs. The committee has been authorized by the Texas Society of CPAs' Leadership Council to submit comments on matters of interest to the membership. The views expressed in this document have not been approved by the Texas Society of CPAs' Leadership Council or Board of Directors and, therefore, should not be construed as representing the views or policy of the Texas Society of CPAs. Please find our responses below for the request for comment.

Question 1:

Do respondents believe that it is in the public interest to explicitly exclude financial statements prepared as part of a consulting services engagement performed in accordance with CS section 100 from those engagements for which AR-C section 70 is required to be applied? Please provide your reasons for your position.

Response:

The PSC agrees that it is in the public interest to explicitly exclude financial statements prepared as part of a consulting services engagement performed in accordance with CS section 100 from those engagements for which AR-C section 70 is required to be applied. The PSC believes the proposed SSARS will help clarify and simplify the preparation of financial statements as part of a consulting services engagement. In addition, the PSC believes the proposed SSARS will benefit our members, as it will allow them to better compete with other providers of controllership services.

Question 2:

Do respondents believe that the proposed effective date of the SSARS is appropriate? If not, why not?

Response:

The PSC agrees the proposed effective date of the SSARS is appropriate, as it allows for sufficient time for implementation and permits early implementation as well.

Question 3:

Do respondents believe that the proposed revisions to paragraph .01 and the introduction of new application paragraph .A4 are appropriate? If not, respondents are asked to state their reasons.

Response:

The PSC agrees that the proposed revisions to paragraph .01 and the introduction of new application paragraph .A4 are appropriate.

We appreciate the opportunity to submit comments on the proposed Statement on Standards for Accounting and Review Services (SSARS), Applicability of AR-C Section 70 to Financial Statements Prepared as Part of a Consulting Services Engagement, dated September 23, 2024.

  • Question

    Why This Matters

    This incredibly important work helps ensure that tax regulations and accounting standards are fair, practical, and serve the public interest. Discourse with regulatory bodies during rulemaking can make a huge impact on our economic well-being.

  • Feedback

    A Public Service

    Providing feedback to standard setting and regulatory bodies on proposed rules is of crucial importance. Accounting professionals provide a grassroots perspective from those who understand the wider ramifications of rules compliance.

  • Hand pointing with motion lines

    We Need You!

    Volunteerism is at the heart of our all our advocacy efforts. Fresh faces and new perspectives are always much welcome - and much needed. Make your voice heard and make a difference!

    Volunteer

What TXCPA is doing

Browse through our latest feedback to regulators.

AICPA ARSC 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

  • Published on Nov 20, 2024

We appreciate the opportunity to provide feedback on the proposed Statement on Standards for Accounting and Review Services (SSARS), Applicability of AR-C Section 70 to Financial Statements Prepared as Part of a Consulting Services Engagement, dated September 23, 2024. If issued as final, the proposed SSARS will amend SSARS No. 21, Statement on Standards for Accounting and Review Services: Clarification and Recodification, as amended, AR-C section 70, Preparation of Financial Statements.

The views expressed herein are written on behalf of the Professional Standards Committee (PSC) of the Texas Society of CPAs. The committee has been authorized by the Texas Society of CPAs' Leadership Council to submit comments on matters of interest to the membership. The views expressed in this document have not been approved by the Texas Society of CPAs' Leadership Council or Board of Directors and, therefore, should not be construed as representing the views or policy of the Texas Society of CPAs. Please find our responses below for the request for comment.

Question 1:

Do respondents believe that it is in the public interest to explicitly exclude financial statements prepared as part of a consulting services engagement performed in accordance with CS section 100 from those engagements for which AR-C section 70 is required to be applied? Please provide your reasons for your position.

Response:

The PSC agrees that it is in the public interest to explicitly exclude financial statements prepared as part of a consulting services engagement performed in accordance with CS section 100 from those engagements for which AR-C section 70 is required to be applied. The PSC believes the proposed SSARS will help clarify and simplify the preparation of financial statements as part of a consulting services engagement. In addition, the PSC believes the proposed SSARS will benefit our members, as it will allow them to better compete with other providers of controllership services.

Question 2:

Do respondents believe that the proposed effective date of the SSARS is appropriate? If not, why not?

Response:

The PSC agrees the proposed effective date of the SSARS is appropriate, as it allows for sufficient time for implementation and permits early implementation as well.

Question 3:

Do respondents believe that the proposed revisions to paragraph .01 and the introduction of new application paragraph .A4 are appropriate? If not, respondents are asked to state their reasons.

Response:

The PSC agrees that the proposed revisions to paragraph .01 and the introduction of new application paragraph .A4 are appropriate.

We appreciate the opportunity to submit comments on the proposed Statement on Standards for Accounting and Review Services (SSARS), Applicability of AR-C Section 70 to Financial Statements Prepared as Part of a Consulting Services Engagement, dated September 23, 2024.