Recent releases of professional standards

Note: This listing of releases is provided regularly in the Statement as a member service. The list is to alert members to recent professional standards issues and is not intended to cover issues fully. Consult the actual standard for complete information.

Statements on Auditing Standards

No. 95, Generally Accepted Auditing Standards, provides the basis for and hierarchy of generally accepted auditing standards. It is effective for audits of financial statements for periods beginning on or after Dec. 15, 2001.

AICPA Statements of Position

No. 01-6, Accounting by Certain Entities (Including Entities With Trade Receivables) that Lend or Finance the Activities of Others, is effective for financial statements issued for fiscal years beginning after Dec. 15, 2001.