Exposure Drafts, Comment Letters, and Statements of Position

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  Proposed statement on standards for accounting and review services : Computer-prepared interim financial statements;Computer-prepared interim financial statements; Exposure draft (American Institute of Certified Public Accountants), 1982, June 15

  American Institute of Certified Public Accountants. Accounting and Review Services Committee

  This proposed Statement would grant the accountant an exemption from the SSARS 1 requirement to comply, as a minimum, with the standards for a compilation engagement when, in specified circumstances, he submits computer-prepared interim financial statements to his client or others. The draft would require the use of a legend on each page of the statements, stating that the computer-prepared interim financial statements do not purport to reflect all appropriate adjustments and disclosures required by generally accepted accounting principles (or another comprehensive basis of accounting) and that they were not compiled, reviewed, or audited by an independent accountant.

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  Accounting and financial reporting for personal financial statements : an amendment to AICPA industry audit guide, Audits of personal financial statements; Statement of position 82-1;

  American Institute of Certified Public Accountants. Accounting Standards Division

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  Proposed statement of position : accounting by agricultural producers and agricultural cooperatives;Accounting by agricultural producers and agricultural cooperatives; Exposure draft (American Institute of Certified Public Accountants), 1982, Sept. 10

  American Institute of Certified Public Accountants. Accounting Standards Division

  This proposed Statement presents accounting and reporting recommendations for the general-purpose financial statements of agricultural producers and agricultural cooperatives. The proposed statement recommends that growing crops of agricultural producers be reported at the lower of cost and market and that inventories of harvested crops and livestock held for sale also be reported at the lower of cost and market unless certain conditions are met. Permanent land development costs, such as clearing, initial leveling, terracing, and construction of earthen dams, would be capitalized but not depreciated. The proposed statement recommends that all direct and indirect costs of developing production animals be accumulated until the animals reach maturity. The proposed statement recommends that patrons account for deliveries of products to marketing cooperatives as sales if control over future economic benefits relating to the products has passed when the products are delivered to the cooperative. The proposed statement recommends that investments in cooperatives be reported at cost, including allocated equities and retains.

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  Proposed statement of position : accounting for dollar repurchase, dollar reverse repurchase agreements by sellers-borrowers ;Accounting for dollar repurchase, dollar reverse repurchase agreements by sellers-borrowers; Exposure draft (American Institute of Certified Public Accountants), 1982, Apr. 14

  American Institute of Certified Public Accountants. Accounting Standards Division

  This Statement provides guidance on accounting for sales and purchases of or borrowing of funds through Government National Mortgage Association (GNMA) pass-through certificates and Federal Home Loan Mortgage Corporation (FHLMC) participation certificates under fixed coupon and yield maintenance dollar agreements. It also describes the accounting for rollovers and extensions of original agreements, and the repurchase of a principal amount different from the principal amount of the original agreement. The conclusions state that fixed coupon dollar agreements should be accounted for as collateralized borrowing arrangements, while yield maintenance dollar agreements should be accounted for as sales and purchases of securities.

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  Statements of position of the Accounting Standards Division as of January 1, 1982

  American Institute of Certified Public Accountants. Accounting Standards Division

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  Position Paper: The Issuance of Compilation Reports by Accountants: The Need for Public Regulation and Professional Oversight

  American Institute of Certified Public Accountants (AICPA)

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  Proposed statement on auditing standards : consideration of omitted procedures after the report date ;Consideration of omitted procedures after the report date; Exposure draft (American Institute of Certified Public Accountants), 1982, Nov. 1

  American Institute of Certified Public Accountants. Auditing Standards Board

  This proposed Statement provides guidance on the considerations and procedures to be applied by an auditor who, subsequent to the date of his report on audited financial statements, concludes that one or more auditing procedures considered necessary in the circumstances were omitted from his examination of the financial statements. If the auditor concludes that the ommission materially affects his present ability to support his opinion, the proposed SAS would require that the auditor promptly undertake to apply the omitted procedure or alternative procedures that would provide a satisfactory basis for his opinion.

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  Proposed statement on auditing standards : materiality and audit risk in conducting an audit ;Materiality and audit risk in conducting an audit; Exposure draft (American Institute of Certified Public Accountants), 1982, Dec. 6

  American Institute of Certified Public Accountants. Auditing Standards Board

  This Statement provides guidance on the auditor's consideration of materiality and audit risk when planning and performing an examination of financial statements in accordance with generally accepted auditing standards. The concepts of materiality and audit risk affect the application of generally accepted auditing standards, especially the standards of field work and reporting, and are inherent in the autitor's standard report. The concept of materiality recognizes that some matters, either individually or in the aggregate, are important for fair presentation of financial statements, while other matters are not important. Audit risk is the risk that the auditor may unknowingly fail to appropriately qualify his opinion on financial statements that are materially misstated.

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  Proposed statement on auditing standards : omnibus statement on auditing standards ;Omnibus statement on auditing standards; Exposure draft (American Institute of Certified Public Accountants), 1982, Mar. 23

  American Institute of Certified Public Accountants. Auditing Standards Board

  This proposed Statement consists solely of amendments to the following existing statements: SAS No. 1, Section 150: Generally Accepted Auditing Standards; SAS NO. 1, Section 320: The Auditor's Study and Evaluation of Internal Control: SAS No. 1, Section 331, Receivables and Inventories; SAS No. 1, Section 420: Consistency of Application of Genearlly Accepted Accounting Principles; SAS No. 1, Section 901: Public Warehouses--Controls and Auditing Procedures for Goods Held; SAS No. 2, Paragraph 39: Reports on Audited financial Statements; SAS No. 5, Paragraphs 5 and 6: The Meaning of "Present Fairly in Conformity With Generally Accepted Accounting Principles" in the Indpendent Auditor's Reports; SAS No. 38, Paragraphs 47 and 51: Letters for Underwriters; SAS No. 39, Paragraph 46: Audit Sampling.

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  Proposed statement on auditing standards : Timing of substantive tests ;Timing of substantive tests; Exposure draft (American Institute of Certified Public Accountants), 1982, Oct. 1

  American Institute of Certified Public Accountants. Auditing Standards Board

  Auditors often perform procedures such as observation of the taking of physical inventories or confirmation of accounts receivable as of a date that is before the balance-sheet date. This proposed Statement provides guidance on the factors auditors should consider before applying such substantive tests at interim dates.This proposed Statement also provides guidance on auditing procedures that should be applied to provide a reasonable basis for extending the audit conclusions at the interim date to the balance-sheet date.

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  Proposed statement on auditing standards : related party transactions ;Related party transactions; Exposure draft (American Institute of Certified Public Accountants), 1982, Oct. 22

  American Institute of Certified Public Accountants. Auditing Standards Executive Committee

  This proposed Statement consists solely of editorial amendments to SAS NO. 6, Related Partly Transactions. The purpose of the amendments is to remove accounting guidance and disclosure standards that are now contained in FASB Statement of Financial Accounting Standards No. 57, Related Party Disclosures. The proposed SAS does not change the audit procedures that should be applied to identify related parties and to understand transactions with those parties, and thus it should not affect practice.

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  Proposed Audit Guide for Credit Unions, May 19, 1982, Draft for Discussion

  American Institute of Certified Public Accountants. Credit Unions Audit Guide Special Committee

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  Accounting and reporting by defined contribution plans and employee health and welfare benefit plans : proposed accounting chapters, Audits of employee benefit plans ;Audits of employee benefit plans; Exposure draft (American Institute of Certified Public Accountants), 1982, Jan. 15

  American Institute of Certified Public Accountants. Employee Benefit Plans and ERISA Committee

  This exposure draft is the proposed accounting chapters of the audit guide, Audtis of Employee Benefit Plans. An exposure draft of the proposed auditing sections of that audit guide was issued for comments on on June 30, 1980. The accounting guidance in this exposure draft for defined contribution plans and employee health and welfare benefit plans is intended to be consistent with the principles in FASB Statement No. 35 to the extent they are relevant. This exposure draft describes the form of financial statements, provides for the reporting of plan investments at fair value, and describes additional financial statement disclosures. The chapter on employee health and welfare benefit plans replaces the accounting and reporting principles and practices specified in the 1972 guide, Audits of Employee Health and Welfare Benefit Funds. The chapter does not, however, significantly change the 1972 guide regarding the accounting for plan liabilities.

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  Proposed statement of position : accountant's report on a review of a financial forecast contained in filings under federal securities statutes ;Accountant's report on a review of a financial forecast contained in filings under federal securities statutes; Exposure draft (American Institute of Certified Public Accountants), 1982, Feb. 10

  American Institute of Certified Public Accountants. Financial Forecasts and Projections Task Force

  This proposed Statement would supplement the Guide for a Review of a Financial Forecast. The Proposed SOP provides guidance to the accountant when his report on a review of a financial forecast is included in a registration statement filed with the SEC under the Securities Act of 1933. The proposed SOP describes the procedures an accountant should undertake between the date of his review report and the effective date of the registration statement when the report is not required to be updated under the terms of his engagement. These procedures, which are limited to reading certain documents and making certain inquiries, provide a reasonable basis for the accountant to consent to the use of his report without constituting an update of that report.

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  Proposed statement of position : report on a financial feasibility study ;Report on a financial feasibility study; Exposure draft (American Institute of Certified Public Accountants), 1982, Feb. 15

  American Institute of Certified Public Accountants. Financial Forecasts and Projections Task Force

  This proposed Statement of Position illustrates an expanded form of report that can be used for financial feasibility studies when the accountant has applied procedures that exceed those that would pertain solely to a review of a financial forecast. The report includes a description of the scope of the feasibility study and a statement of conclusions that result from the study.

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  Report on a financial feasibility study, Supplements the Guide for a Review of a Financial Forecast, October 1982; Statement of position 1982, Oct; Statement of position 1982, Oct

  American Institute of Certified Public Accountants. Financial Forecasts and Projections Task Force

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  Proposed statements on standards for management advisory services : MAS engagements and MAS consultations ;MAS engagements and MAS consultations; Exposure draft (American Institute of Certified Public Accountants), 1982, Mar. 30

  American Institute of Certified Public Accountants. Management Advisory Services Executive Committee

  The proposed statement on MAS (Management Advisory Services) engagements provides guidance on the application of the MAS standards on professional competence, planning and supervision, sufficient relevant data, the role of the practitioner, the understanding with the client, client benefit, and communication of results. The proposed statement on MAS consultations proivides guidance on the application of the general standards on due professional care, planning and supervision, and sufficient relevant data. It proposes that the four technical standards established for MAS engagements in SSMAS no. 1 be made applicable to MAS consultations.

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  Proposed guide : personal financial statements : compilation, review, and audit ;Personal financial statements : compilation, review, and audit; Exposure draft (American Institute of Certified Public Accountants), 1982, Nov. 1

  American Institute of Certified Public Accountants. Personal Financial Statements Task Force

  This statement provides guidance on the scope of work and form of report for an audit, review, or compilation of personal financial statements prepared in conformity with the accounting provisions of Statement of Position 82-1, Accounting and Financial Reporting for Personal Financial Statements. The guide first discusses matters that are common to all personal financial statement engagements. The guide then discusses the application of current professional standards to engagements to compile, review , or audit personal financial statements that present assets at their estimated current values and liabilities at their estimated current amounts. Finally, the guide discusses reporting on personal financial statements, and provides numerous compilation, review, and audit report illustrations.

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  Proposed interpretation of 101-9 : the meaning of certain independence terminology and the effect of family relationships on independence ;Meaning of certain independence terminology and the effect of family relationships on independence; Exposure draft (American Institute of Certified Public Accountants), 1982, Aug. 11

  American Institute of Certified Public Accountants. Professional Ethics Executive Committee

  This interpretation defines certain terms used in rule 101 and, in doing so, also explains how independence may be impaired through certain family relationships.

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  Proposed interpretation of quality control standards : documentation of compliance with a system of quality control;Documentation of compliance with a system of quality control; Exposure draft (American Institute of Certified Public Accountants), 1982, Feb. 8

  American Institute of Certified Public Accountants. Quality Control Standards Committee

  The proposed interpretation is to advise CPA firms that documentation would ordinarily be required to demonstrate a firms's compliance with its quality control policies and procedures.

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  Auditing property and liability reinsurance; Statement of position 1982 October;

  American Institute of Certified Public Accountants. Reinsurance Auditing and Accounting Task Force

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  Proposed auditing statement of position : auditing property and liability reinsurance ;Auditing property and liability reinsurance; Exposure draft (American Institute of Certified Public Accountants), 1982, Mar. 15

  American Institute of Certified Public Accountants. Reinsurance Auditing and Accounting Task Force

  This exposure draft provides guidance on certain significant aspects of internal accounting controls and auditing procedrues for property and liability reinsurance, including accident and health reinsurance. For ceded reinsurance, this draft provides guidance on internal accounting controls and related auditing procedures regarding the evaluation of the assuming company's financial responsibility and stability. For assumed reinsurance, the draft provides guidance on internal accounting controls and related auditing procedures regarding the assessment of the accuracy and reliability of data received from the ceding company. The draft also provides guidance on the auditor's tests of selected reinsurance contracts, transactions, and related balances and guidance on internal accounting controls and related auditing considerations for reinsurance transacted through an intermediary or broker.

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  Proposed audit guide : audit sampling;Audit sampling; Exposure draft (American Institute of Certified Public Accountants), 1982, Mar. 1

  American Institute of Certified Public Accountants. Statistical Sampling Subcommittee

  This exposure draft is a proposed Audit Guide entitled Audit Sampling. The proposed guide is important to all CPAs who do audits. It provides guidance to the auditor for implementing Statement on Auditing Standards no. 39, Audit Sampling. SAS no. 39 applies to all audit sampling — both statistical and nonstatistical. This proposed guide provides guidance to assist auditors using either approach in applying SAS no. 39. The guide is organized so that essentially all the guidance relating solely to statistical sampling is located beginning with Chapter 3, section 3. As a result, if an auditor is using this guide to assist him in applying nonstatistical sampling, the auditor would ordinarily follow the guidance in Chapters 1, 2, and 3 (sections 1 and 2). The audit guide is organized as follows: 1. The introduction to the guide describes the scope of the audit guide and provides guidance on the type of audit procedures covered by SAS no. 39 and this guide. 2. Chapter 1 provides an overview of the relationship of audit sampling to the audit process. 3. Chapter 2 provides guidance on the use of audit sampling for tests of compliance with prescribed internal accounting control procedures. This guidance applies to both nonstatistical and statistical sampling except where noted. 4. Chapter 3 provides guidance on the use of audit sampling for substantive tests of details. Chapter 3 is divided into four sections. Section one provides general guidance that applies to both nonstatistical and statistical sampling. Section 2 provides guidance for nonstatistical sampling applications for substantive tests. Two types of statistical sampling approaches for substantive tests are described in sections 3 and 4. Sections 2, 3, and 4 each include a case study illustrating the application of the guidance in the respective section. 5. The guide includes several appendices. Appendices A through E are primarily useful in applying certain statistical sampling approaches. Appendix F provides further guidance on the use of the risk model included in the appendix to SAS no. 39. Appendices G and H are a glossary and selected bibliography of further readings, respectively. Neither SAS no. 39 nor this guide requires the auditor using nonstatistical sampling to compare the sample size for the nonstatistical sampling application to a corresponding sample size calculated using statistical theory. However, the guide provides several quantitative illustrations of sample sizes based on statistical theory that should be helpful to an auditor applying professional judgment and experience in considering the effect of various planning considerations on sample size.

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  Proposed audit guide : audits of brokers and dealers in securities ;Audits of brokers and dealers in securities; Exposure draft (American Institute of Certified Public Accountants), 1982, Dec. 27

  American Institute of Certified Public Accountants. Stockbrokerage Auditing Subcommittee

  This proposed revised audit guide on brokers and dealers in securities was undertaken to reflect changes in industry practices and regulatory requirements that have occurred in recent years. The proposed guide describes operations, accounting practices and regulatory requirements unique to the brokerage industry, discusses unique aspects of the audit and illustrates the form and content of the financial statements and auditor's report. Also, the draft recommends new accounting and reporting practices relating to the valuation of future and forward transactions and unlisted options and to the presentation of subordinated debt and shareholders' equity in the financial statements. Significant changes in the guide are: 1. Discussion of the SEC's adoption of the FOCUS Report, which replaced the "Answers to Financial Questionnaire" with GAAP financial statements. 2. Prohibition against the combination of subordinated debt and shareholders' equity in the statement of financial condition. 3. An explanation of how to meet the SEC's requirements for a review of and report on internal accounting control and also meet the standards of SAS No. 30, "Reporting on Internal Accounting Control," and presentation of illustrative reports. 4. A new chapter discussing government and money market instruments, and a recommendation that all future and forward transactions should be marked-to-market currently, with the effect recorded in current results of operations. Also, the guide states that the gross amounts of future and forward commitments should be disclosed in the notes to financial statements rather than recording the future assets and liabilities. 5. Expanded discussion of listed options and a recommendation that unlisted options should be valued at fair value, as listed options currently are valued. 6. A discussion of the Commodity Futures Trading Commission in the chapter on commodities. 7. Presentation of illustrative financial statements and schedules that conform to the FOCUS reporting requirements and other SEC rules. 8. Illustrative auditors' reports on the financial statements and schedules that conform to the reporting guidance in SAS No. 29, "Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents." 9. Illustrative auditor's report qualified for a scope limitation, appropriate if the financial statements include securities valued by management and the auditor believes that, although the valuation procedures appear reasonable and the underlying documentation appropriate, the determination of fair value involves subjective judgment that is not susceptible to substantiation by auditing procedures.

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  Accounting guidelines for the computer services industry; Exposure draft (American Institute of Certified Public Accountants), 1982, April 28

  Association of Data Processing Service Organizations

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  Proposed statement on standards for accounting and review services : communications between predecessor and successor accountants;Communications between predecessor and successor accountants; Exposure draft (American Institute of Certified Public Accountants), 1981, Jan. 23

  American Institute of Certified Public Accountants. Accounting and Review Services Committee

  This proposed statement amends SSARS 2, by deleting footnote 8 in paragraph 16 of that statement. This proposed statement would not change the basic position of SSARS 2 that a successor accountant is not required to communicate with a predecessor in connection with acceptance of an engagement to compile or review the financial statements of a nonpublic entity. This proposed statement requires the predecessor accountant to respond promptly and fully to such inquiries in ordinary circumstances.

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  Proposed statement on standards for accounting and review services : reporting on compiled financial statements ;Reporting on compiled financial statements; Exposure draft (American Institute of Certified Public Accountants), 1981, Nov. 30

  American Institute of Certified Public Accountants. Accounting and Review Services Committee

  This proposed Statement amends the reporting standards for a compilation of financial statements by requiring that the accountant's report indicate that his compilation has been performed in accordance with standards established by the American Institute of Certified Public Accountants.

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  Accounting for performance of construction-type and certain production-type contracts : July 15, 1981 : proposal to the Financial Accounting Standards Board; Statement of position 81-1;

  American Institute of Certified Public Accountants. Accounting Standards Division

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  Reporting practices concerning hospital-related organizations : August 1, 1981 : proposal to the Financial Accounting Standards Board to amend AICPA Industry audit guide, "Hospital audit guide."; Statement of position 81-2;

  American Institute of Certified Public Accountants. Accounting Standards Division

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  Statements of position of the Accounting Standards Division as of January 1, 1981

  American Institute of Certified Public Accountants. Accounting Standards Division

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  Proposed statement on auditing standards : reporting on condensed financial statements and selected financial data ;Reporting on condensed financial statements and selected financial data; Exposure draft (American Institute of Certified Public Accountants), 1981, Sept. 1

  American Institute of Certified Public Accountants. Auditing Standards Board

  This proposed Statement provides reporting guidance on (1) condensed financial statements derived from audited financial statements (such as the condensed year-end balance sheet that must be included in the quarterly report filed on SEC Form 10-Q); (2) selected financial data derived from audited financial statements that are required in certain SEC filings according to regulation S-K.

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  Proposed statement on auditing standards : Special-purpose reports for use by other auditors ;Special-purpose reports for use by other auditors; Exposure draft (American Institute of Certified Public Accountants), 1981, Oct. 15

  American Institute of Certified Public Accountants. Auditing Standards Board

  This proposed Statement provides guidance on how, under certain crcumstances, one independent auditor might use a special-purpose report of another independent auditor because of its revlevance to his own examination and provides guidance on the preparation of such reports. The proposed SAS would require an independent auditor to determine whether significant transactions are processed or significant assets or liabilities are handled by an organization that provides accounting or custodial services to a client and to consider the division of control functions between the client organization and the service organization.

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  Proposed statement on auditing standards : supplementary mineral reserve information ;Supplementary mineral reserve information; Exposure draft (American Institute of Certified Public Accountants), 1981, July 30

  American Institute of Certified Public Accountants. Auditing Standards Board

  This proposed Statement provides additional guidance in applying SAS No. 27, Supplementary Information Required by the Financial Accounting Standards Board to the mineral reserve information required by FASB Statement No. 39, Financial Reporting and Changing Prices: Specialized Assets--Mining and Oil and Gas. The disclosure of supplementary mineral reserve information is required of companies that are subject to the requirements of FASB Statement No. 33, Financial Reporting and Changing Prices.

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  Proposed statement on auditing standards : working papers ;Working papers; Exposure draft (American Institute of Certified Public Accountants), 1981, Apr. 27

  American Institute of Certified Public Accountants. Auditing Standards Board

  This proposed Statement supersedes SAS No. 1, section 338, "Working Papers." The revision of section 338 was undertaken primarily because there is some confusion in the profession as to whether the section requires the preparation of working papers. The main purpose of the proposed SAS is to make it clear that working papers are required.

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  Proposed audit guide : audits of banks;Audits of banks; Exposure draft (American Institute of Certified Public Accountants), 1981, Nov. 16

  American Institute of Certified Public Accountants. Banking Committee

  This guide has been prepared to assist the independent CPA in examining and reporting on financial statements of commercial banks, savings banks and bank holding companies. Also, it should help officers and directors of banks and other interested persons understand the nature and scope of audits of banks by independent CPAs. In the last decade, many changes have occurred in the banking industry. Bank supervisory authorities have taken substantial steps to improve reporting by banks. Bank holding companies have become a major factor in the industry, and the range of services offered by banking institutions has expanded. The supervisory authorities have expressed increased interest in reliance on examinations by independent CPAs. Since 1971, the Securities and Exchange Commission (SEC) has required audits of the financial statements of banks included in filings with the SEC. Because of these changes, the American Institute of Certified Public Accountants (AICPA) Committee on Banking (Committee) has revised the banking industry audit guide, Audits of Banks, originally published in 1968 and supplemented in 1969. This guide is a complete revision of that guide. This guide emphasizes aspects of accounting and auditing unique to the banking industry. It reflects the presumption that the CPA understands accounting and auditing common to business enterprises in general. The discussions of auditing present typical audit situations in banks, including the CPA's review of internal accounting controls of banks. However, the discussions do not necessarily cover all audit situations a CPA might encounter in banks. Finally, references to the statements on auditing standards of the AICPA and the authoritative accounting pronouncements of the Financial Accounting Standards Board (FASB) and its predecessor organizations, including the Accounting Principles Board (APB) are intended to include the specific pronouncements as well as all subsequent amendments to them effective as of the date of this guide. The CPA should be familiar with any auditing or accounting interpretations issued after the date of this guide.

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  Proposed statement on standards for management advisory services : definitions and standards for MAS practice ;Definitions and standards for MAS practice; Exposure draft (American Institute of Certified Public Accountants), 1981, Mar. 18

  American Institute of Certified Public Accountants. Management Advisory Services Executive Committee

  This exposure draft is the first of a new series entitled Statements on Standards for Management Advisory Services that will be enforceable under the AICPA Rules of Conduct. The proposed statement identifies nine fundamental standards for MAS practice.

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  Proposed accounting section : personal financial statements guide ;Personal financial statements guide; Exposure draft (American Institute of Certified Public Accountants), 1981, June 1

  American Institute of Certified Public Accountants. Personal financial statements committee

  This exposure draft is a proposed revision of the accounting guidance in the 1968 AICPA Industry Audit Guide, Audits of Personal Financial Statements. This draft recommends and supports the use of estimated current value as the basis of measurement in personal financial statements and presents guidelines for determining estimated current value in those statements.

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  Rule 502 - Adverstising and other forms of solicitation: Proposed interpretation 502-4 - Self-designation as expert or specialist; Exposure draft (American Institute of Certified Public Accountants), 1981, March 12

  American Institute of Certified Public Accountants. Professional Ethics Division. Executive Committee

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  Proposed statement on standards for accounting and review services : financial statements included in certain prescribed forms;Financial statements included in certain prescribed forms; Exposure draft (American Institute of Certified Public Accountants), 1980, Sept. 30

  American Institute of Certified Public Accountants. Accounting and Review Services Committee

  The proposed statement, which will amend certain paragraphs of SSARS 1, makes it clear that the accountant's reporting obligation, discussed in paragraphs 5 through 7, of SSARS 1, extends to the compilation or review of financial statements included in a prescribed form but it provides a modified form of standard compilation report when the prescribed form or related instructions call for departure from generally accepted accounting principles (including disclosures) or, where applicable, from a comprehensive basis of accounting other than generally accepted principles.

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  Accounting for real estate acquisition, development, and construction costs : proposal to the Financial Accounting Standards Board. December 22, 1980; Statement of position 80-3;

  American Institute of Certified Public Accountants. Accounting Standards Division

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  Accounting for title insurance companies : proposal to the Financial Accounting Standards Board. January 31, 1980; Statement of position 80-1;

  American Institute of Certified Public Accountants. Accounting Standards Division

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  Statements of position of the Accounting Standards Division as of January 1, 1980

  American Institute of Certified Public Accountants. Accounting Standards Division

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  Proposed statement on auditing standards : Adequacy of disclosure in financial statements;Adequacy of disclosure in financial statements; Exposure draft (American Institute of Certified Public Accountants), 1980, Feb. 29

  American Institute of Certified Public Accountants. Auditing Standards Board

  The proposed Statement would supersede SAS No. 1, section 430 "Adequacy of Informative Disclosure." The proposed Statement does not modify the basic concepts of section 430. However, section 430 is being replaced to eliminate guidance that is no longer applicable and to achieve consistency with subsequent authoritative pronouncements, such as SAS Nos. 12 and 17 and FASB Statement No. 5. Also, the proposed Statement provides additional guidance on the meaning of "practicable" in the disclosure context.

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  Proposed statement on auditing standards : audit sampling;Audit sampling; Exposure draft (American Institute of Certified Public Accountants), 1980, Oct. 31

  American Institute of Certified Public Accountants. Auditing Standards Board

  The proposed SAS provides guidance on the use of sampling in an audit of financial statements. The Statement includes guidance for planning, performing, and evaluating the two general approaches to audit sampling: nonstatistical and statistical. The proposed SAS recognizes that the auditor often is aware of information that allows him to concentrate his effort on account balances and transactions that may be more likely to contain errors or irregularities. The guidance in this proposed SAS should be especially helpful to the auditor who is planning procedures to test balances and transactions about which the auditor has no special knowledge.

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  Proposed statement on auditing standards : Letters for underwriters and interim reviews ... Reports relating to the results of applying agreed-upon procedures to specified elements, accounts, or items of a financial statement ;Letters for underwriters and interim reviews;Reports relating to the results of applying agreed-upon procedures to specified elements, accounts, or items of a financial statement; Exposure draft (American Institute of Certified Public Accountants), 1980, Aug. 29

  American Institute of Certified Public Accountants. Auditing Standards Board

  The first Statement amends Statement on Auditing Sandards No. 1, section 630, "Letters for Underwriters"; Section 710, "Filings under Federal Securities Statutes"; and SAS No. 24, Review of Interim Financial Information. The amendments are proposed in response to changes in professional standards and rules of the Securities and Exchange Commission, relating primarily to an accountant's review of interim financial information. The second proposed Statement amends SAS No. 14, "Special Reports," paragraphs 15-17 to permit an accountant's report on the results of applying agreed-upon procedures to specified elements, accounts, and items of a financial statement to be accompanied by the entity's statements. This amendment also revises the language of the sample accountants' reports.

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  Proposed statement on auditing standards : The auditor's considerations when a question arises about an entity's continued existence;Auditor's considerations when a question arises about an entity's continued existence; Exposure draft (American Institute of Certified Public Accountants), 1980, March 24

  American Institute of Certified Public Accountants. Auditing Standards Board

  Under generally accepted accounting principles, continuation for an entity is usually assumed in the absence of information to the contrary. The proposed Statement describes the types of contrary information that may raise questions about an entity's ability to continue and factors that may mitigate such information and describes the auditor's related considerations, including consideration of relevant plans of management and prospective data. The proposed Statement also discusses the adequacy of informative disclosures and the effects on the auditor's report when a question has been raised about an entity's ability to continue in existence. The proposed Statement does not, however, change existing standards for the auditor's reporting responsibilities.

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  Proposed statement on auditing standards : The auditor's standard report ;Auditor's standard report; Exposure draft (American Institute of Certified Public Accountants), 1980, Sept. 10

  American Institute of Certified Public Accountants. Auditing Standards Board

  The proposed statement concerns the content and wording of the standard report on audited financial statements and it would make seven changes in the current form of the report. These changes are intended to give a clearer indication of the character of the audit and the degree of responsibility the auditor is taking by having the report state certain concepts that currently exist in authoritative accounting and auditing literature but are only implied in the current form of the report.

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  Proposed statement on auditing standards : interim financial information required by SEC regulation S-K ;Interim financial information required by SEC regulation S-K; Exposure draft (American Institute of Certified Public Accountants), 1980, Nov. 20

  American Institute of Certified Public Accountants. Auditing Standards Executive Committee

  This proposed Statement on Auditing Standards consists of revisions of SAS No. 24, Review of Interim Financial Information. The revisions are in response to recently adopted changes in Regulation S-K of the Securities and Exchange Commission. The changes proposed in this exposure draft are primarily technical in nature and are not expected to result in major changes in reporting practices.