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Article: Nonattest Services Rule Revised Based on Member Feedback
- Article from:
- CPA Letter
- Article date:
- April 1, 2005
- Author:
CopyrightCopyright American Institute of Certified Public Accountants Apr 2005. Provided by ProQuest LLC. (Hide copyright information)
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Revisions to Interpretation 101-3 Performance of Nonattest Services recently were adopted to provide clarification on the applicability and intent of the rule and ensure its continued effectiveness in promoting independence when a member renders nonattest services to an attest client. The revisions do not relax the rule or change its meaning. The Professional Ethics Executive Committee believed the changes were necessary and appropriate after it became evident, based on feedback from a significant number of members, that a number of Interpretation 101-3's requirements warranted further clarification.
The revisions relate to General Requirement No. 2, regarding a competent employee; General ...