TXCPA Committee Concurs with ASB Proposed Amendments Related to External Confirmations

TXCPA's Professional Standards Committee (PSC) submitted comments on the AICPA Auditing Standards Board (ASB) proposed Statement on Auditing Standards (SAS), External Confirmations.

TXCPA's Professional Standards Committee (PSC) submitted comments on the AICPA Auditing Standards Board (ASB) proposed Statement on Auditing Standards (SAS), External Confirmations, dated February 27, 2025.

The PSC concurs with the ASB’s efforts to align the existing standards more closely to those established by the PCAOB in order to drive increased consistency in practice. 


 


Topics:

You May be Interested in

  • TXCPA Urges Texas Delegation to Support Fiscal State of the Nation Act
    TXCPA is encouraging Texas lawmakers to support H.R. 7026, the Fiscal State of the Nation Act. This bill would give Congress clearer, more consistent financial insights and help strengthen long‑term fiscal decision‑making.
  • Navigating Last-Minute Filing Season Details
    The IRS and states are issuing last-minute rules that affect this tax season - mandatory electronic payments, new CP53E refund notices, expanding state e-payment requirements, and updated USPS postmark rules. Practitioners need to stay alert.
  • The IRS May Owe Your Clients Money from the COVID Period
    Recent court decisions have opened a largely overlooked opportunity for significant tax refunds based on mandatory disaster relief under IRC Section 7508A during the federally declared COVID-19 disaster period. As a result, interest and penalties assessed during this period may be invalid and refundable, and some taxpayers who received refunds may also be entitled to unpaid overpayment interest. While uncertainty remains and the IRS may resist such claims, timely protective refund filings are critical to preserve clients rights as the statute of limitations continues to run.

Support the Next Generation

Donate to TXCPA scholarships and help aspiring accountants achieve their goals.