Article

AICPA Committee Proposes Updated Information System Services Interpretation

March 30, 2018

The American Institute of Certified Public Accountants’ Professional Ethics Executive Committee (“PEEC”) has proposed amendments to its interpretation of an independence rule concerning nonattest services associated with an attest client’s information systems.

Outlined in the exposure draft Proposed Revised Interpretation – Information System Services (formerly Information, Systems Design, Implementation, or Integration), the proposed changes relate to the PEEC’s review of the “Nonattest Services” subtopic under the “Independence Rule” as well as its application to existing information technology services provided to clients. During the project, the PEEC has examined its “Information Systems Design, Implementation, or Integration” interpretation to assess major threats to independence that could occur when such services are offered. The PEEC’s proposed amendments to the interpretation are included in the exposure draft.

Comments on the exposure draft are due Friday June 15.