New documentation requirement deferred.

• Position: Professional Ethics Executive Committee - Brief Article

Professional Ethics Executive Committee Defers Effective Date of New Documentation Requirement under Interpretation 101-3--Nonattest Services

In order to provide members with additional time to update their firm policies and procedures and further educate firm personnel, the Professional Ethics Executive Committee (PEEC) deferred until December 31, 2004, the effective date of the new requirement to document in writing the understanding established with the client in accordance with General Requirement No. 3 under Interpretation 101-3--Nonattest Services. General Requirements No. 3 also contains a requirement to establish an understanding with the client regarding all nonattest services, which is not new and remains in...