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Exposure Draft Issued for “Client” & “Client Attest” Definition Updates

An exposure draft on potential updates to the definitions of “client” and “client attest” in the American Institute of Certified Public Accountants (“AICPA”) Code of Professional Conduct has been published by the AICPA’s Professional Ethics Executive Committee. Issued as Proposed Revised Definitions of Client and Attest Client, the proposed revision to “client” would clarify in situations when a company that maintains a licensee to perform a professional service is not the same company tied to the professional service, both companies should be treated as separate clients. The basic definition of “client” would remain as is. In addition, the exposure draft proposes updating the “attest client” definition to clarify that only. Read More.

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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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