Statements of Position



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This proposed Statement on Responsibilities in Personal Financial Planning Practice (SRPFP) is intended to provide guidance to members of the AICPA who perform personal financial planning (PFP) services. This proposed SRPFP is advisory and does not constitute enforceable technical standards under rule 202 of the AICPA Code of Professional Conduct. This proposed SRPFP does not supersede Statements on Standards for Accounting and Review Services, Statements on Responsibilities in Tax Practice, the Personal Financial Statements Guide, or the Audit and Accounting Guide Guide for Prospective Financial Information. The issuance of this exposure draft was approved by the PFP Executive Committee. This proposed SRPFP provides guidance to CPAs in developing a basis for recommendations in a PFP engagement. It explains that developing a basis for recommendations involves three functions — collecting information, analyzing information, and formulating strategies and recommendations .— and provides guidance on performing each of these functions.

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Finance, Personal -- United States -- Accounting --Standards; Financial planners -- United States; Financial services industry -- Standards -- United States; Financial planners -- Professional ethics -- United States


Accounting | Taxation


Originally published by: American Institute of Certified Public Accountants; Copyright and permission to reprint held by: American Institute of Certified Public Accountants.

Proposed statement on responsibilities in personal financial planning practice : developing a basis for recommendations;Developing a basis for recommendations; Exposure draft (American Institute of Certified Public Accountants), 1995, Aug. 15



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