AICPA Proposes Eight New/Revised Standards for Audits by Non-Issuers
On June 15, the American Institute of Certified Public Accountants released an Exposure Draft (ED) containing eight new and revised standards impacting audits of non-issuers. (The term "non-issuers" is contrasted with "issuers" who are subject to the rules of the Public Company Accounting Oversight Board (PCAOB), which sets auditing standards for public companies. Since the formation of the PCAOB, the AICPA's Auditing Standards Board (ASB) was reorganized to set standards for all non-issuers.)
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