Accounting & Review Services Committee Priority: Converge With International Standards, Align With GAAS
The American Institute of Certified Public Accountants issued the following news release:
The American Institute of CPAs (AICPA) Accounting and Review Services Committee (ARSC) has issued Statement on Standards for Accounting and Review Services No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions. It will amend AR-C sections 60, 70, 80 and 90 in AICPA Professional Standards.
"By issuing SSARS 25 it shows our commitment to update these standards to be more ...