Audit Conduct

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Comment period ending for AICPA Cloud Services Interpretation

An AICPA Exposure Draft proposing a new independence interpretation on hosting services was released in May 2016. Interested parties have until July 18, 2016 to comment.  The proposal would deem situations where a member is engaged to have custody or control of an attest client’s data or records used in its business operations to create a management responsibility that impairs independence.   Examples of situations that create / do not create insurmountable threats to independence are provided.