Ethically Speaking

Why this is an important topic for members (00:34) Explanation of AICPA's tax standards (00:58) History of the tax standards (02:10) Past AICPA ethics investigations into tax standards violations (03:45) Tax questions to the AICPA ethics hotline (04:40) About the current revisions of the tax standards (06:40)

Want to stay up to date with ethics guidance? Tune in to this episode of Ethically Speaking to hear the latest on projects the AICPA Professional Ethics Executive Committee is working on. In its open meeting this quarter, the committee discussed several topics including NOCLAR, IESBA developments, inducements, staff augmentation, and the three-year strategy and work plan. Staff presented updates on helpful implementation guidance for hosting services and auditors of state and local government entities. PEEC meetings are open to the public and we always welcome feedback and input about projects and plans. What (and who) you'll hear in this episode: • Toni Lee-Andrews: Introduction of Brian Lynch, new committee chair (00:48) • Brian Lynch: PEEC three-year strategy and work plan (01:30) • Andy Mintzer: IESBA update (03:58) • Robert Denham: NOCLAR (06:51) • Stephanie Saunders: Statements on Standards for Tax Services, revision project (10:30) • Ellen Goria: Hosting services, new FAQs (13:45) • Ellen Goria: Staff augmentation (18:05) • Anna Doudourekas: Inducements (23:10) • Melissa Powell: Implementation guidance for auditors of state and local governments (24:50) • Jennifer Kappler: Updates on tools to apply the guidance for client affiliates. (26:41) If you have questions about the substantive content of this episode, please call the ethics hotline at 888.777.7077 (option 2, then option 3) or email [email protected]. If you have other comments on this episode or if you'd like to suggest topics for future episodes, please email [email protected].

Listen in on this second hosting services episode to hear answers to questions coming into our hotline and received at the recent Engage conference. What you'll learn in this episode: • Hosting services explained (1:03) • Why hosting services impair independence (2:05) • What tax practitioners need to provide to their clients to meet the requirements of this interpretation (4:40) • About UNICAP calculations (6:25) • What qualifies as hosting when a third-party cloud service is used (7:20) • How the interpretation affects members' portals (9:47) • About services that are not considered hosting (11:13) • Members' responsibility to safeguard client information (13:50) • Final thoughts on professional judgment, retroactive responsibility, safeguarding client information, and work papers (15:25)

Do you know whether you're providing hosting services to your clients? Will your independence be impaired when the ethics guidance takes effect on July 1? Get answers to these questions and more in this informative episode. Hosting services explained (0:53) Why the new guidance is necessary and what issues it's addressing (2:08) Benefits to members and the public of the new guidance (3:50) Examples of services that are and aren't hosting and will or won't impair independence (6:15) Crossover between records requests and hosting services (11:29) Implementation guidance offered by the ethics division (13:00) About portals and hosting (15:05) Reasonable period of time defined (17:50) Recurring bookkeeping services and hosting (21:06)

Outgoing PEEC chair Sam Burke, division director Toni Lee-Andrews, and various task force leaders discuss the "State and Local Government Client Affiliates" and "Information System Services" interpretations as well as other key happenings at PEEC's open meeting on May 15.

The AICPA Professional Ethics Division has resurrected our perennially popular newsletter as a podcast. In this inaugural episode, Toni Lee-Andrews, the director of the division, speaks on our vision and the value we hope to bring members and other interested parties. You'll hear plans for education, member enrichment, and how we'll use the podcast to support standard setting and engagement with our members and the profession.