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1 | Statement on Standards in Personal Financial Planning Services Personal Financial Planning Section Tax. Estate. Retirement. Risk Management. Investments. © 2020 American Institute of CPAs. All rights reserved. AICPA and American Institute of CPAs are trademarks o the American Institute o Certifed Public Accountants ... |
2 | . 1.300.001 and 2.300.001), and “Compliance with Standards Rules” (AICPA, Professional Standards, ET sec. 1.310.001 and 2.310.001) as well as paragraphs .02-.05 of the “Application of the AICPA Code” (AICPA, Professional Standards, and ET sec. 0.200.020), will be undertaken on a case-by-case basis. 1. Per AICPA Bylaw S... |
3 | unless prevailing facts and circumstances dictate otherwise, this action is required. If a standard provides that a procedure or action is one that the member “should consider,” the consideration of the procedure or action is required, whereas carrying out the specied procedure or action is not. The professional requ... |
4 | (Ref: par. A7) 19. The member should possess a level of knowledge of PFP principles and theory, and a level of skill in the application of such principles, that will enable him or her to (Ref: par. A8) a. Identify client goals and objectives; b. Gather and analyze relevant information; c. Consider and apply appropriat... |
5 | established by the standard is impaired, the member should terminate the engagement in writing. b. If the member determines that the ability to meet the standards established by the standard is not impaired, the member should communicate in writing that this limitation could affect the conclusions and recommendations ... |
6 | planning decisions developed in a PFP engagement in which the member did not participate should obtain an understanding of the planning decisions made. 41. All other relevant guidance under the standard relating to providing PFP services should be followed in an implementation engagement. Monitoring and updating engag... |
7 | in paragraph 3 are not provided. These services are, however, subject to the SSTSs. b. Valuation services: Any engagement that would be considered a valuation service under SSVS No. 1 when PFP services as dened in paragraph 3 are not provided. These services are, however, subject to SSVS No. 1. c. Business succession... |
8 | to perform PFP services include, but are not necessarily limited to, the following: (Ref: par. 21, A5) a. Investment Advisers Act of 1940; see Securities and Exchange Commission Interpretive Release IA-1092 b. Treasury Department Circular No. 230 c. State boards of accountancy d. AICPA Code of Professional Conduct e. ... |
9 | action on planning decisions, which may include the member doing one or more of the following: a. Taking responsibility for the selection and acquisition of products1 b. Taking responsibility for the selection of service providers c. Establishing selection criteria d. Coordinating or reviewing the delivery of services... |
10 | As of June 1, 2013 Code of Professional Conduct and Bylaws Reprinted from AICPA Professional Standards 10794-355 As of June 1, 2013 Code of Professional Conduct and Bylaws Reprinted from AICPA Professional Standards Code of Professional Conduct and Bylaws (as of June 1, 2013) is reprinted from AICPA Professional Stand... |
11 | 3 3011 Table of Contents Section Page BL 200 Admission to, and Retention of, Membership and Association—continued 220R—Implementing Resolution Under Section 2.2 Requirements for Admission to Membership 230—2.3 Requirements for Retention of Membership 230R—Implementing Resolutions Under Section 2.3 Requirements for Rete... |
12 | Not to Be Applied Retroactively BL 800 Amendments ............................................... 3169 801—Amendments 810—8.1 Proposals to Amend the Bylaws 820—8.2 Proposals to Amend the Code of Professional Conduct 830—8.3 Submission to Council via Board of Directors 840—8.4 Submission to Membership by Mail Ballot BL... |
13 | open society, depends primarily on members' understanding and voluntary actions, secondarily on reinforcement by peers and public opinion, and ulti- mately on disciplinary proceedings, when necessary, against members who fail to comply with the Rules. Other Guidance Interpretations of Rules of Conduct consist of inter... |
14 | �- dence, and carry out the profession's special responsibilities for self-governance. The collective efforts of all members are required to maintain and enhance the traditions of the profession. ET §52.01 Article II---The Public Interest 2823 ET Section 53 Article II—The Public Interest Members should accept the obli... |
15 | rendering attestation services. .02 Members often serve multiple interests in many different capacities and must demonstrate their objectivity in varying circumstances. Members in public practice render attest, tax, and management advisory services. Other members prepare nancial statements in the employment of others... |
16 | ��icts of interest in discharging professional responsibilities. Due care requires that services be provided with competence and diligence. .02 Each of these Principles should be considered by members in deter- mining whether or not to provide specic services in individual circumstances. In some instances, they may re... |
17 | from any of the ethics require- ments stated herein, as long as the foreign network rm's conduct, at a minimum, is in accord with the ethics and ET §91.02 2836 Rules: Applicability and Definitions independence requirements set forth in the IESBA's Code of Ethics for Professional Accountants. 2. A member shall not kno... |
18 | December 1998. Revised March 2013, revisions effective May 31, 2013.] ET §92.03 2838 Rules: Applicability and Definitions .04 Close relative. A close relative is a parent, sibling, or nondependent child. [Revised November 2001.] .05 Condential client information. Condential client information is any information obta... |
19 | . [Revised November 2002 and September 2003. Paragraph renumbered Septem- ber 2011.] .10 Financial statements. A presentation of nancial data, including accompanying notes, if any, intended to communicate an entity's economic re- sources obligations, or both, at a point in time or the changes therein for a period of t... |
20 | ments; or c. has the ability to exercise inuence over the contents of the nancial statements, including when the individual is a member of the board of directors or similar governing body, chief executive ofcer, president, chief nancial ofcer, chief operating ofcer, general counsel, chief ac- counting ofcer, co... |
21 | A network rm is a rm or other entity that belongs to a network, as dened in paragraph .23. This includes any entity (including another rm) that the network rm, by itself or through one or more of its owners, controls (as dened in FASB ASC 810), is controlled by, or is under common control with. [Paragraph added ... |
22 | are part of the rm's normal approval and quality control review proce- dures applicable to a partner. This denition is solely for the purpose of applying Rule 101 [sec. 101 par. .01] and its interpretations and rulings and should not be used or relied upon in any other context, including the determination of whether... |
23 | hips With a Covered Member’s Client .................... .10 [101-9]—[Deleted] ..................................... [.11] 101-10—The effect on independence of relationships with entities included in the governmental nancial statements [Revised] ................................. .12 101-11—Modied application of Rule ... |
24 | .041-.042 [22.] Family Relationship, Brother [Deleted] ................. [.043-.044] [23.] Family Relationship, Uncle by Marriage [Deleted] ..... [.045-.046] Contents Table of Contents 2847 Section Paragraph 191 Ethics Rulings on Independence, Integrity, and Objectivity—continued [24.] Family Relationship, Father [Del... |
25 | ....................................... [.107-.108] Contents 2848 Table of Contents Section Paragraph 191 Ethics Rulings on Independence, Integrity, and Objectivity—continued [55.] Independence During Systems Implementation [Deleted] ................................................ [.109-.110] [56.] Executive Search [... |
26 | ances and Cash Advances [Deleted] ... [.180-.181] 91. Member Leasing Property to or From a Client [Revised] ... .182-.183 92. Joint Interest in Vacation Home .......................... .184-.185 93. Service on Board of Directors of Federated Fund-Raising Organization ............................................ .186-.1... |
27 | , in certain circumstances the PEEC has determined that it is appropriate to prohibit or re- strict certain relationships notwithstanding the fact that the risk may be at an acceptable level. For example, the PEEC has determined that a covered mem- ber should not own even an immaterial direct nancial interest in an at... |
28 | ects the longstanding requirement that members be independent in fact. .08 This denition is used as part of the risk-based approach to analyze independence. Because the risk-based approach requires judgment, the deni- tion should not be interpreted as an absolute. For example, the phrase "without 1 In cases where thr... |
29 | such as the client's CEO 4 This threat does not arise from testifying as a fact witness or defending the results of a profes- sional service that the member performed for the client. ET §100-1.16 2854 Independence, Integrity, and Objectivity b. A partner or partner equivalent of the rm who has provided the client wit... |
30 | Who applies the safeguard .22 There are three broad categories of safeguards. The relative impor- tance of a safeguard depends on its appropriateness in light of the facts and circumstances. a. Safeguards created by the profession, legislation, or regulation b. Safeguards implemented by the attest client c. Safeguards... |
31 | and any changes to them, for all partners and professional staff h. Policies and procedures that are designed to monitor the rm's, part- ner's, or partner equivalent's reliance on revenue from a single client and, if necessary, cause action to be taken to address excessive reliance i. Designating someone from senior ... |
32 | regulation, agreement, policy or contract requires the member's report to be led under GAO regulations, and any organization that issues or enforces standards of independence that would apply to the member's engagement. Such organizations may have independence requirements or rulings that differ from (for example, ma... |
33 | association includes the following: i. Ceasing to participate in all employee health and welfare plans sponsored by the client, unless the client is legally required to allow the covered member to participate in the plan (for example, Consolidated Omnibus Budget Recon- ciliation Act (COBRA)) and the covered member pays... |
34 | the plan. In such circumstances, a covered member's participation in the plan will not impair independence, provided that the plan is offered to all employees in comparable employment positions and the covered member has no inuence or control over the investment strategy, benets, or other management activities assoc... |
35 | dispose of a nancial interest in an attest client if doing so would violate an employer's policies on insider trading. On the other hand, waiting for more advantageous market conditions to dispose of the interest would not fall within this exception. [Footnote added by the Professional Ethics Executive Committee, Mar... |
36 | or forfeits his or her vested compensation rights if the underlying price of the em- ployer's shares equals or exceeds the exercise price for 10 con- secutive days (market period). Exercise or forfeiture should occur as soon as practicable but no later than 30 days after the end of the market period. 4. any resulting ... |
37 | the application of safeguards, the threats identied and the safeguards applied to eliminate the threats or reduce them to an acceptable level should be documented.12 [Paragraph added by adoption of the Code of Professional Conduct on January 12, 1988. Revised, effective June 30, 1990, by the Professional Ethics Execu... |
38 | begins. An appearance of partici- pation or association results from such actions as: • The individual provides consultation to the rm. • The rm provides the individual with an ofce and related ameni- ties (for example, secretarial and telephone services). • The individual's name is included in the rm's ofce dire... |
39 | Revised, effective April 30, 2003, by the Professional Ethics Executive Committee.] .05 101-3—Nonattest Services. Before a member or his or her rm (member) performs nonattest services (for example, tax or consulting services) for an attest client,14 the member should determine that the requirements de- scribed in thi... |
40 | .] Engagements Subject to Independence Rules of Certain Regulatory Bodies This interpretation requires compliance with independence regulations of au- thoritative regulatory bodies (such as the SEC, the GAO, the DOL, the Public Company Accounting Oversight Board [PCAOB], and state boards of accoun- tancy) when a member... |
41 | the client. [Footnote added, effective October 31, 2004, by the Professional Ethics Executive Committee. Footnote renumbered by the revision of Interpretation No. 101-1, April 2006. Footnote subsequently renumbered by the revision of Interpretation No. 101-1, March 2010.] ET §101.05 2870 Independence, Integrity, and O... |
42 | impact the entries have on the nancial statements. • Determine or change journal entries, account codings or classication for transactions, or other accounting records without obtaining client approval. • Authorize or approve transactions. • Prepare source documents. • Make changes to source documents without client... |
43 | Have custody of client assets, such as taking temporary possession of securities purchased by a client. 20 When auditing plans subject to the Employee Retirement Income Security Act, Department of Labor regulations, which may be more restrictive, must be followed. [Footnote renumbered by the re- vision of Interpretati... |
44 | to a taxing authority, in paper or electronic form, would not impair a member's independence provided the member does not have custody or control22 over the client's funds and the individual designated by the client to oversee the tax services: • Reviews and approves the tax return and related tax payment; and, • If r... |
45 | cant degree of subjectivity. Valuations performed in connection with, for example, ESOPs, business com- binations, or appraisals of assets or liabilities generally involve a signicant degree of subjectivity. Accordingly, if these services produce results that are material to the nancial statements, independence woul... |
46 | witness,29 a member may be questioned by the trier of fact or counsel as to his or her opinions pertaining to mat- ters within the member's area of expertise. Answering such questions would not impair the member's independence. b. Litigation consulting services are those litigation services where a member provides adv... |
47 | serves as a mediator or any similar role in a matter involving a client provided the mem- ber is not making any decisions on behalf of the parties, but rather is acting as a facilitator by assisting the parties in reaching their own agreement.31 Investigative services include all forensic services not involving actual... |
48 | ��cant that no safeguards could reduce the threat to an acceptable level. Separate evaluations are conducted periodically and generally not ingrained within the business but can be useful in taking a fresh look at whether internal controls are present and functioning. Such evaluations include observations, in- quiries,... |
49 | the client's business process • Having client management rely on the member's work as the primary basis for the client's assertions on the design or operating effectiveness of internal controls • Determining which, if any, recommendations for improving the inter- nal control system should be implemented • Reporting to... |
50 | t organizations that limit their activities to those of a charitable, religious, civic, or similar nature by being named as a director or a trustee. An individual who permits his or her name to be used in this manner would not be considered to impair independence under Rule 101 [sec. 101 par. .01] provided his or her ... |
51 | ation No. 101-3, July 2004. Footnote subsequently renumbered by the revision of Interpretation No. 101-1, April 2006. Footnote subsequently renum- bered by the revision of Interpretation No. 101-3, February 2007 and July 2007. Footnote subsequently renumbered by the revision of Interpretation No. 101-1, March 2010.] 36... |
52 | . Revised, Novem- ber 1991, effective January 1, 1992 with earlier application encouraged, by the Professional Ethics Executive Committee. Revised, effective February 28, 1998 by the Professional Ethics Executive Committee. Revised, July 2002, to reect conforming changes necessary due to the revision of Interpretation... |
53 | A covered member may also become involved in litigation ("primary litigation") in which the covered member and the client or its management are defendants. Such litigation may arise, for example, when one or more stockholders bring a stockholders' derivative action or a so-called "class action" against the client or i... |
54 | to the covered member's rm 39 or to the plaintiff client. Effects of impairment of independence If the covered member believes that the circumstances would lead a reasonable person having knowledge of the facts to conclude that the actual or intended litigation poses an unacceptable threat to independence, the covere... |
55 | with respect to the client investor. If the nonclient investee is immaterial to the client investor, a covered member's material investment in the nonclient investee would cause an impairment of independence. When a client investee is material to a nonclient investor, any direct or mate- rial indirect nancial interes... |
56 | text of this interpretation, certain terminology used throughout the interpretation is specically de- ned by the Governmental Accounting Standards Board. [Footnote renumbered, July 2002, to reect conforming changes necessary due to the revision of Interpretation No. 101-1. Footnote subsequently renumbered by the re... |
57 | -10, "The Effect on Independence of Relationships With Entities Included in the Governmental Financial Statements," January 1996, effective January 31, 1996. Revised, July 2002, to reect conforming changes necessary [41-42] [Footnotes deleted by the Professional Ethics Executive Committee, March 2003. Footnotes renumb... |
58 | the revision of Interpretation No. 101-1, March 2010.] 44 For purposes of this interpretation, the term subject matter is as dened in the SSAEs. [Footnote revised and renumbered September 2011, effective November 2011.] ET §101.13 2890 Independence, Integrity, and Objectivity • Individuals who consult with the attest... |
59 | under public or private ownership, and the attest portion of the practice is conducted through a separate rm owned and controlled (as dened in FASB ASC 810) by the member. All such structures must comply with applicable laws, regulations, and Rule 505, Form of Organi- zation and Name [sec. 505 par. .01]. In complyin... |
60 | �nancial interest in or a loan to or from an attest client of Newrm. Partners of one Newrm generally would not be considered partners of another Newrm except in situations where those partners perform services for the other Newrm or where there are signicant shared economic interests between partners of more than ... |
61 | issuance of FASB ASC. Footnote renumbered by the revision of Interpretation No. 101-1, March 2010.] ET §101.16 Independence 2893 the view of PEEC, so closely aligned through direct reporting relationships with such persons that their interests would seem to be inseparable. Consequently, persons considered Direct Super... |
62 | umbered by revision of Interpretation No. 101–11, November 2011. Footnote added, November 2002, to reect conforming changes necessary due to the revision of Interpretation No. 101-1. Footnote renumbered by the revision of Interpretation No. 101-2, April 2003. Footnote subsequently renumbered by the revision of Interpr... |
63 | or chief accounting ofcer, or (3) meeting the criteria in FASB ASC 323-10-15 to determine the ability of an investor to exercise such inuence with respect to an entity. The foregoing examples are not nec- essarily all-inclusive. [Footnote subsequently renumbered by revision of Interpretation No. 101–11, November 201... |
64 | , June 2009, to reect conforming changes necessary due to the issuance of FASB ASC. Footnote renumbered by the revision of Interpretation No. 101-1, March 2010.] ET §101.17 2896 Independence, Integrity, and Objectivity material indirect nancial interest in the client. When reviewing this interpre- tation, the covered... |
65 | right to dispose exists. Mutual Funds The ownership of shares in a mutual fund is considered to be a direct nancial interest in the mutual fund. The underlying investments of a mutual fund are considered to be indirect nancial interests. If the mutual fund is diversied,50 a covered member's ownership of 5 percent o... |
66 | the nancial interest is considered a direct nancial interest. • Rights to acquire equity interests, restricted stock awards, or other share-based compensation arrangements are considered direct nan- cial interests, regardless of whether such nancial interests are vested or exercisable. The following examples illus... |
67 | of the account will result in a penalty or tax that is signicant to the account, the covered member may continue to own the account until the account can be transferred without signicant penalty or tax, provided the covered member does not participate on the attest engagement team and is not in a position to inuenc... |
68 | ��nancial interests of the partnership would be considered to be direct nancial interests of the covered member. See item (A)(3) of Interpretation No. 101-1 [sec. 101 par. .02] for ad- ditional guidance on joint closely held investments and Interpretation No. 101-8, "Effect on Independence of Financial Interests in No... |
69 | resources; they do not themselves typically engage in public practice or provide professional ser- vices to their members' clients or to other third parties. Firms and other entities in the association cooperate with the rms and other entities that are members of the association to enhance their capabilities to provi... |
70 | a perception by clearly describing the nature of its membership in the association, for example, by stating on its stationery or promotional material that it is "an independently owned and operated member rm of XYZ Association." Sharing Common Control When the association is formed for the purpose of cooperating to e... |
71 | resources involve the exchange of client information or personnel, such as when staff are drawn from a shared pool, or a common technical department is created within the association to provide participating rms with technical advice that the rms are required to follow, a reasonable and informed third party is more ... |
72 | signicant inu- ence over a multiple or multiemployer employee benet plan nancial statement attest client. i. An employee benet plan sponsored by either a nancial state- ment attest client or an entity controlled by the nancial state- ment attest client. A nancial statement attest client that spon- sors an empl... |
73 | ) of the denition of afliate, as dened in the previous "Denitions" section, would put the employee in a key position with respect to the nancial statement attest client. Individuals in a position to inuence the attest engagement and on the attest engagement team who are considering employment with an afliate of ... |
74 | or Records A member shall be considered to have knowingly misrepresented facts in violation of Rule 102 [ET sec. 102 par. .01] when he or she knowingly— a. Makes, or permits or directs another to make, materially false and misleading entries in an entity's nancial statements or records; or b. Fails to correct an enti... |
75 | 102 par. .01], a member must maintain objectivity and integrity in the performance of a professional ser- vice. In dealing with his or her employer's external accountant, a member must be candid and not knowingly misrepresent facts or knowingly fail to dis- close material facts. This would include, for example, respon... |
76 | sec. 102 par. .04]. • Consulting with his or her legal counsel regarding his or her re- sponsibilities. • Documenting his or her understanding of the facts, the account- ing principles, auditing standards, or other relevant professional standards involved or applicable laws or regulations and the con- versations and p... |
77 | ] [Deleted, January 2006.] 2. Association Membership .003 Question—Would independence be considered to be impaired if a member joined a trade association that is a client of the rm? .004 Answer—Independence would not be considered to be impaired pro- vided the member did not serve as an ofcer, director, or in any cap... |
78 | No. 14, "Member on Board of Directors of United Fund," April 1991.] [15.] Retired Partner as Director [.029–.030] [Deleted, June 1991.] [16.] Member on Board of Directors of Nonprot Social Club [.031–.032] [Deleted, November 2011.] 17. Member of Social Club .033 Question—Would independence be considered to be impaire... |
79 | . 59.] [29.] Member as Bondholder [.057–.058] [Deleted, November 2011.] [30.] Financial Interest by Employee [.059–060] [Deleted, July 1979.] 31. Performance of Services for Common Interest Realty Associations (CIRAs), Including Cooperatives, Condominium Associations, Planned Unit Developments, Homeowners Associations,... |
80 | depository in- stitution) has custody of a member's assets (other than depository accounts), including retirement plan assets. Would independence be considered to be im- paired? .082 Answer—If a covered member's assets were held by a nancial ser- vices company client, independence would not be considered to be impair... |
81 | .] Member as Auditor of Employee Benet Plan and Sponsoring Company [.105–.106] [Deleted, June 1991.] [54.] Member Providing Appraisal, Valuation, or Actuarial Services [.107–.108] [Deleted, May 1999.] [55.] Independence During Systems Implementation [.109–.110] [Deleted, May 1999.] [56.] Executive Search [.111–.112] [... |
82 | the mere servicing of a loan by a client nancial institution impair independence with respect to the client? .135 Answer—No. [Revised, July 2002, to reect conforming changes necessary due to the revision of Interpretation No. 101-1. Replaces previous Ethics Ruling No. 67, "Servicing of Loan," November 1993.] ET §191... |
83 | service on a client's advisory board impair indepen- dence? .145 Answer—Independence would be considered to be impaired if any partner or professional employee of the rm served on the advisory board unless all the following criteria are met: (a) the responsibilities of the advisory board are in fact advisory in natur... |
84 | nancial interest in the LP would impair independence. However, if the client's nancial interest in the LP were not material to the client, a covered member's imma- terial nancial interest in the LP would not impair independence. c. If the covered member is a limited partner in the LP, the cov- ered member is consider... |
85 | duciary obligations and responsibilities to the bank may conict with or interfere with the member's ability to serve the client's interest objectively and in complete condence. The general knowledge and experience of CPAs in public practice may be very helpful to a bank in formulating policy matters and making busi... |
86 | her rm has a relationship with another entity that could, in the member's professional judgment, be viewed by the client or other appropriate parties as impairing the member's objectivity. If the member believes that the professional service can be performed with objectivity and the relationship is disclosed to and c... |
87 | to the client parent. However, a loan from a nonclient parent would not impair independence with respect to the client subsidiary, as long as the subsidiary is not material to its parent. [Deleted effective November 30, 2011. Reestablished and effective October 31, 2012, until the earlier of January 1, 2014, or adopti... |
88 | 211] [Deleted, September 2003.] 106. Member Has Signicant Inuence Over an Entity That Has Signicant Inuence Over a Client ET §191.200 Ethics Rulings on Independence, Integrity, and Objectivity 2929 .212 Question—Would independence be considered to be impaired if a member or his or her rm had signicant inuence, a... |
89 | Products That Invest in Clients [.218–.219] [Deleted, December 2005.] 110. Member Is Connected With an Entity That Has a Loan to or From a Client .220 Question—A member is associated with an entity as an ofcer, di- rector, or a shareholder who is able to exercise signicant inuence over an entity. That entity has a ... |
90 | (as dened by FASB ASC 810) or an individual not employed by the member (a third-party service provider) to assist the member in providing professional services (for example, bookkeeping, tax return prepa- ration, consulting, or attest services, including related clerical and data entry functions) to clients. Does Rul... |
91 | .228–.229], under Rule 101 [sec. 101 par. .01], for guidance applicable to the offer or acceptance of gifts or entertainment to or from an attest client. 114. Acceptance or Offering of Gifts and Entertainment to or From an Attest Client .228 Question—Would independence be considered to be impaired if a member or the m... |
92 | on Management Consulting Services Engagements ........................ .017-.018 10. Submission of Financial Statements by a Member in Public Practice [Revised] ................................. .019-.020 [11.] Applicability of Rule 203 to Members Performing Litigation Support Services [Deleted] ......................... |
93 | a departure and the member can demonstrate that due to unusual circumstances the nancial statements or data would otherwise have been misleading, the member can comply with the rule by describing the de- parture, its approximate effects, if practicable, and the reasons why compliance with the principle would result i... |
94 | 05 203-4—Responsibility of employees for the preparation of - nancial statements in conformity with GAAP Rule 203 [sec. 203 par. .01] provides, in part, that a member shall not state afrmatively that nancial statements or other nancial data of an entity are presented in conformity with GAAP if such statements or da... |
95 | .013–.014] [Transferred to sec. 591 par. .379–.380 as Ethics Ruling No. 190, April 1995.] 8. Subcontractor Selection for Management Consulting Service Engagements .015 Question—A member has been engaged to design and program a computer system. The engagement is well within the member's competence. The member plans to r... |
96 | by the member (a third-party service provider) to assist the member in providing professional services (for example, bookkeeping, tax return preparation, consulting, or attest services, including related clerical and data entry functions) to clients? .024 Answer—Using a third-party service provider to assist the membe... |
97 | 13.] Contingent Fees to Fire Adjuster [Deleted] .............. [.025-.026] 14. Use of Condential Information on Management Consulting Service Engagements ......................... .027-.028 15. Earlier Similar Management Consulting Service Study With Negative Outcome ................................. .029-.030 Content... |
98 | entiality agreement) so that the prospective purchaser does not disclose any information obtained in the course of the review, since such information is deemed to be condential client information. Members reviewing a practice in connection with a prospective purchase or merger shall not use to their advantage nor disc... |
99 | by the Joint Committee on Internal Revenue Taxation ($1 million at March 1991) or state taxing authority. 4. Requesting a refund of either overpayments of interest or penalties charged to a client's account or deposits of taxes improperly accounted for by the federal or state taxing authority in circumstances where th... |
100 | "Applicability of General and Technical Standards When Using a Third-Party Service Provider," of section 291, Ethics Rulings on General and Technical Standards [sec. 291 par. .023–.024], for additional responsibilities of the member when using a third-party service provider. [Revised, effective July 1, 2005, except fo... |
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