AICPA Professional Ethics Executive Committee: Proposed Revisions Related to Simultaneous Employment or Association with an Attest Client
TXCPA’s Professional Standards Committee supports AICPA’s proposed revisions on simultaneous employment with an attest client but urges clearer definitions, examples, and guidance on engagement periods, inadvertent breaches, and resolution timelines.
The Texas Society of CPAs’ Professional Standards Committee (PSC) supports the AICPA Professional Ethics Executive Committee's proposed revisions on simultaneous employment with an attest client but recommends clarifications. They suggest specifying the distinction between the "period of professional engagement" and the "period covered by the financial statements" with examples. Additionally, they seek guidance on defining inadvertent breaches and the required timeline for addressing them.
Read the full comment letter here. View TXCPA PSC comment letter here.
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