Genuine Learning Blog: Proposed Standards for Accounting & Review Services

| , ,

On September 23, 2024 the AICPA’s Accounting & Review Services Committee proposed SSARS Applicability of AR-C Section 70 to Financial Statements Prepared as Part of a Consulting Services Engagement, would amend the applicability of AR-C section 70, Preparation of Financial Statements, in AICPA Professional Standards to explicitly exclude financial statements prepared as part of a consulting services engagement performed in accordance with CS section 100, Consulting Services: Definitions and Standards, in AICPA Professional Standards from those engagements in which AR-C section 70 is required to be applied. The comment period ends December 20.

The proposed SSARS would become effective for the preparation of financial statements for period ending on or after December 15, 2026. Early implementation would be permitted.

SCACPA is excited to partner with Galasso Learning Solutions and the Genuine Learning Blog for real-time A&A updates and answers for SCACPA members.

Jaclyn Veno, CPA, holds both a bachelor’s and a master’s degree in accounting from Clemson University. Before joining Galasso Learning Solutions, she held previous positions in auditing with two top 10 CPA firms. Jaclyn has extensive experience developing both staff and interns including working with overseas staff. She holds certificates in adult learning, instructional design, and training & facilitation as well as virtual learning theory from the Association for Talent Development (ATD).

Career Opportunity – Tax Partner Opportunity

Tax Partner Opportunity – CPA with Review Experience | Columbia, SCAre you a seasoned CPA ready to take the next big step in your career? Our well-established tax accounting firm, ...
READ MORE

Disaster Relief Bill Approved by Senate, AICPA Responds

The U.S. Senate unanimously passed the Filing Relief for Natural Disasters Act, following the House’s unanimous approval earlier this year. The bill now moves to the President’s desk for signature. ...
READ MORE

Career Opportunity – Executive Director: State Housing Finance & Development Authority

The Executive Director is the chief executive officer of SC Housing and carries the overall responsibility for the strategic direction, operational management, and fiscal integrity of the agency. Working under ...
READ MORE