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Section 5020, Association

Ef­fec­tive date:

Section 5020 is effective September 1, 1987 except that the recommendation in paragraph 5020.23 only applies to documents issued on or after December 14, 2010.

Overview

Association is a term generally used within the profession to indicate a public accountant's involvement with an enterprise or with information issued by that enterprise. Association can arise in three ways: (i) when a public accountant associates himself or herself by some action on his or her part with information issued by an enterprise; (ii) when an enterprise or some other party has indicated (either in writing or orally) without the public accountant's knowledge or consent that the public accountant was involved with information issued by an enterprise; (iii) when a third party assumes that a public accountant is involved with information issued by an enterprise.

A public accountant has no control over third party assumptions about his or her involvement with information or how others represent his or her involvement with information. A public accountant can, however, control how he or she associates himself or herself with information.

The purpose of Section 5020 is to describe how a public accountant associates himself or herself with information, the professional responsibilities that stem from such association and the procedures that a public accountant can take to limit the inappropriate use of his or her name. The phrase "use of his or her name" includes a reference to the public accountant by virtue of role (auditor, reviewer, etc.) as well as to the use of the public accountant's name.

His­tory of Sec­tion 5020

Date

De­vel­op­ment

Com­ments

December 2009

Amendment re paragraph 5020,23

Applies to documents issued on or after December 14, 2010.

September 2016

The AASB approved CSOA 5000, Use of the Practitioner’s Communication or Name (formerly titled Association) which will replace Section 5020. CSOA 5000 will be included in a Handbook update in January 2017.

CSOA 5000 will be effective for a practitioner’s consent provided on or after June 1, 2017.

Note: The above sum­mary does not in­clude de­tails of con­se­quen­tial amend­ments made as the re­sult of other pro­jects.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.