PEEC to continue discussions on alternative practice structures

Last week, the AICPA’s Professional Ethics Executive Committee discussed changes to guidance in the AICPA Code of Professional Conduct related to firm independence and alternative practice structures, such as those funded by private-equity investments.

PEEC also discussed revising the definition of “network firm” and adding a new interpretation prohibiting attest client investment in firms.

The committee agreed to continue discussions at an interim October meeting regarding the issuance of a second exposure draft of Proposed Revisions Related to Alternative Practice Structures. Read more.