Accounting and Review Services Committee issues new standard.

• Position: Accounting & auditing news

The AICPA's Accounting and Review Services Committee has issued Statement on Standards for Accounting and Review Services No. 15, Elimination of Certain References to Statements on Auditing Standards and Incorporation of Appropriate Guidance Into Statements on Standards for Accounting and Review Services (No. 060653CPA09).

The committee is aware that, in many instances, SSARSs referenced the practitioner to statements on auditing standards. The ARSC also is aware that, for many practitioners, compilations and reviews represent the highest level of service performed and, therefore, those...