New guidance issued on submission of financial statements.

• Position: Brief article

To provide guidance for when a client engages an accountant, other than his or her auditor, to prepare unaudited financial statements on behalf of management and where those financial statements are provided by management to its outside auditor for the purposes of the annual audit, the Accounting Review and Services Committee has issued Interpretation No. 31, "Preparation of Financial Statements for Use by an Entity's Auditors," of AR section 100, Compilation and Review of Financial Statements.

Additionally, to provide guidance with respect to an...