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This report describes the manuscript flow, time-to-review and decision making for AJPT for the period July 1, 1996, through December 31, 1997. This time period reflects my first 18 months as editor. During this period, two issues of the journal were submitted to the AAA office for publication as the Fall 1997 and Spring 1998 issues.
The total of 123 new submissions reflects a total of 83 new submissions during the period January to December 1997. This compares to 112 for the prior year. The average time to an initial decision of 87 days during this period compares to approximately 96 days for the prior year. The ten manuscripts selected for publication includes one that has been tentatively selected for the Fall 1998 issue. While it is difficult to be precise about acceptance rates, it is my belief that the average rate is about ten percent.
January 6, 1998
As of 12/31/97
ASB Update as of January 31, 1998 Kurt Pany, Arizona State University Academic Member of the Auditing Standards Board
In this update I summarize the ASB pronouncements approved for issuance during the 13 months ending on January 31, 1998, and highlight various projects still in progress. As always, feel free to contact me with any questions and comments.
1997 Pronouncements
SAS No. 83 and SSAE No. 7-Establishing an Understanding with the Client
This SAS and SSAE amend the auditing and attestation standards to incorporate guidance about obtaining an understanding with the client about the services to be performed. The ASB believes that the guidance will reduce misunderstandings between CPAs and their clients. The standards:
Require CPAs to establish an understanding that includes (1) the objectives of the engagement, (2) the responsibilities of the CPA, (3) the responsibilities of management and (4) any limitations of the engagement.
Require CPAs to document the understanding in the working papers, preferably through a written...