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AICPA Committee Approves Exposure Revisions to Definitions

The American Institute of Certified Public Accountants’ (“AICPA”) Professional Ethics Executive Committee has approved for exposure revisions to the following definitions under the AICPA Code of Professional Conduct:

  • Client: The proposed revision would clarify that when a company that retains a licensee to perform a professional service is not the same company bound by the professional service, both companies are considered separate clients of the licensee.
  • Attest Client: The proposed revision would state that only the subject entity is an attest client.

The exposure draft is expected to be released in mid-December.

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