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December 06, 2012

Comments

RFKELLEY

The four points written by you 3.24.2006 in the IHT need to be adopted and the regulations related to auditor independence need to be removed. The thought of independence needs to be devoted to energy!

James Ulvog

We can see a small picture of what your second point would look like in the compilation area under SSARS. The accountant can do the work even if not independent if the impairment is disclosed. The accountant has the option of disclosing all the reasons independence is impaired. That could be the model for the disclosure approach when not independent.

The reason the disclosure option is allowed? Users of the financials can sort through the reasons themselves. Some readers told the AICPA their confidence in the financials *goes up* when the CPA provides certain services.

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  • © 2007-2019 James R Peterson Special thanks: Francine McKenna. Always with love: Kat and Julie. In memory: Bob White, Stuart Kadison