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Deloitte comments on the AICPA's proposed SSARS, "Omnibus Statement on Standards for Accounting and Review Services — 2018"

Published on: Dec 22, 2017

Deloitte & Touche LLP comments on the Accounting and Review Services Committee (the ARSC) of the American Institute of Certified Public Accountants (AICPA) proposed Statement on Standards for Accounting and Review Services (SSARS), "Omnibus Statement on Standards for Accounting and Review Services — 2018."

An excerpt from the comment letter is shown below:

We acknowledge that the proposed amendments pertaining specifically to going concern are necessary in order to “harmonize the accountant’s requirements with respect to going concern in a SSARSs review with those of AU-C section 930, Interim Financial Information” (AU-C 930), and AU-C section 570, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern (AU-C 570), as applicable. The feedback provided, as well as the additional recommendations reflected in this letter are expressly directed to this narrow aspect of the proposed Omnibus.

Full text of the comment letter is available below.

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