[Manuelo]

Wiley 2012 says:

AICPA pronouncements apply to nonissuers, while PCAOB pronouncements belong to issuers.

While Becker says:

AICPA applies to all service that AICPA members perform (private [nonissuer] or public [issuer])

Can someone tell me what the differences are between the above two statements? I’m soooo confused. I don’t think I understand what Wiley is saying.

[Anonymous]

sounds like auditing?

AICPA applies to NONPUBLIC companies.

PCAOB applies to PUPLIC companies only.

[Manuelo]

Hmmm I'm still confused about AICPA. Becker says:

AICPA governs any service that a member of the AICPA performs. These services include audits, special reports, compilations, reviews, and any services on financial forecasts and projections, as well as attest action engagements.”

So basically, if an accountant performs any of the above services for a NONPUBLIC company, AICPA should be followed.

But If the services are performed for a PUBLIC company, PCAOB should be followed.

Have I got the right idea?

[Author]

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