Current through Register Vol. 54, No. 45, November 9, 2024
Section 11.27 - Auditing standards and other technical standards(a)Auditing standards. A licensee may not permit his name to be associated with financial statements to imply that he is acting as an independent public accountant with respect to the financial statements unless he has complied with applicable GAAS. Statements on auditing standards issued by the AICPA or other pronouncements having similar generally recognized authority are considered to be interpretations of GAAS. A licensee shall justify any departures from the standards.(b)Other technical standards. A licensee shall comply with other technical standards promulgated by bodies of the AICPA, PCAOB or other recognized authorities designated to establish the standards. A licensee shall justify any departures from the standards.The provisions of this §11.27 adopted August 15, 1980, effective 8/16/1980, 10 Pa.B. 3354; amended July 27, 2007, effective 7/28/2007, 37 Pa.B. 4055.The provisions of this §11.27 issued under section 506 of The Administrative Code of 1929 (71 P. S. § 186); and section 3(10)-(12) of The CPA Law (63 P. S. § 9.3(10)-(12)).
This section cited in 49 Pa. Code § 11.23 (relating to competence); and 49 Pa. Code § 11.23a (relating to competence to supervise attest services).