Accounting & Attestation Resource Group Page

The A&A Resource Group is made up of CPAs who work in public practice, industry, and academia—bringing a diverse range of perspectives to complex technical issues. Through collaboration, research, and discussion, the group provides timely feedback to standard-setting bodies like the FASB, AICPA, and others.

These efforts ensure that North Carolina’s accounting professionals are represented in conversations that directly impact the future of financial reporting, audit quality, and ethical standards. Their work supports:

• Advocacy for practical, clear, and implementable standards
• Protection of the public interest through high-quality guidance
• Advancement of the accounting profession through proactive engagement

Why It Matters: Without practitioner input, new standards may overlook the day-to-day challenges CPAs face. This group ensures that real-world insight influences national guidance—strengthening the profession for everyone.

Impact in Action

How the A&A Resource Group Influenced SSARS 27

On April 7, 2025, the AICPA issued SSARS 27 to clarify that AR-C Section 70 does not apply to financial statements prepared as part of a consulting services engagement—provided the preparation is not the primary objective. This clarification reduces confusion for practitioners offering outsourced accounting or advisory services.

The A&A Resource Group played a key role in shaping the final standard through its formal comment letter, which offered practical concerns and actionable recommendations:

• Concern: CS Section 100 does not explicitly list financial statement preparation as a consulting service.
• Recommendation: Add “accounting and financial statement services” to the list of defined consulting services.
• Result: While CS Section 100 wasn’t amended directly, SSARS 27 added explanatory guidance (paragraph A5) affirming that consulting services are distinct from attest functions and defined solely by client agreement.
• Concern: Uncertainty for firms and users about when to include reports, what to disclose, and how to interpret the engagement type.
• Recommendation: Provide clearer guidance and allow optional disclaimers.
• Result: SSARS 27 permits accountants to voluntarily include a “no assurance provided” disclaimer without triggering full AR-C 70 compliance, helping manage user expectations.

SSARS 27 is effective for periods ending on or after December 15, 2026, with early adoption permitted.

Comment Letters

The A&A Resource Group has been focused on thoughtful and timely response to several key exposure drafts. Their dedication to reviewing complex proposals, providing expert feedback, and representing the perspectives of North Carolina CPAs ensures our profession remains both proactive and well-informed.

• June 15, 2025: Independence in Alternative Practice Structures
• May 30, 2025: Recognition of Intangibles
• May 27, 2025: Accounting for Debt Exchanges
• April 11, 2025: Financial Key Performance Indicators (KPIs) for Business Entities
• March 31, 2025: Proposed Accounting Standards Update Interim Reporting (Topic 270)
• March 15, 2025: Proposed revisions related to simultaneous employment or association with an attest client
  • Comments on the AICPA Professional Ethics Executive Committee’s proposed revisions related to simultaneous employment or association with an attest client.
• February 28, 2025: FASB’s Proposed Accounting Standards Update—Government Grants (Topic 832)
• January 20, 2025: FASB’s Proposed Accounting Standards Update— Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40)
• December 20, 2024: Proposed SSARS Applicability of AR-C Section 70 to Financial Statements Prepared as Part of a Consulting Services Engagement

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