Appendix L
Schedule of Changes Made to the Text From the Previous Edition

This appendix is nonauthoritative and is included for informational purposes only.

As of July 1, 2018

This schedule of changes identifies areas in the text and footnotes of this guide that have that have changed since the previous edition. Entries in the table of this appendix reflect current numbering, lettering (including that in appendix names), and character designations that resulted from the renumbering or reordering that occurred in the updating of this guide.

Reference Change
Various chapters Update boxes have been added for various pronouncements issued by standard setters.
General Editorial changes, including rephrasing, have been made in this guide to improve readability where necessary.
Preface Updated.
Update 1-1 before paragraph 1.01 Revised due to passage of time.
Update 1-4 before paragraph 1.47 Revised to reflect issuance of SEC Release Nos. 33-10442; 34-82241; IC-32936, Investment Company Reporting Modernization (temporary final rule).
Footnote 4 to paragraph 1.23 Revised to reflect issuance of SEC Release No. IC-33142, Investment Company Liquidity Disclosure.
Former footnote 11 in update 1-4 before paragraph 1.47 Deleted.
Paragraph 1.47, including footnotes Revised due to passage of time.
Paragraph 1.58, including footnotes Revised due to passage of time.
Paragraph 1.63, including footnotes Revised due to passage of time.
Footnote 11 to paragraph 3.66 Added to reflect issuance of US Commodity Futures Trading Commission (CFTC) Letter No. 17-51 (interpretative letter).
Footnote 4 before paragraph 4.08 Revised due to passage of time.
Paragraph 4.23 Revised due to passage of time.
Footnote 7 before paragraph 5.64 Revised due to passage of time.
Update 6-1 before paragraph 6.01 Added due to passage of the Tax Cuts and Jobs Act of 2017.
Paragraph 6.24 including footnote Revised due to passage of time.
Paragraph 6.31 Revised due to passage of time.
Paragraphs 6.81–.82 Revised due to passage of time.
Former footnote 6 before paragraph 7.08 Deleted due to passage of time.
Update 7-2 before paragraph 7.18 Added to reflect issuance of FASB Accounting Standards Update (ASU) No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.
Former footnote 11 in paragraph 7.29 Deleted due to passage of time.
Footnote 24 in paragraph 7.51 Revised due to passage of time.
Paragraph 7.55 Revised due to passage of time.
Former footnote 28 in paragraph 7.56 Deleted due to passage of time.
Paragraph 7.70 Revised due to passage of time.
Paragraph 7.213 Revised to reflect issuance of SEC Release Nos. 33-10231; 34-79095; IC-32314; Investment Company Reporting Modernization.
Paragraphs 7.218, 7.224–.225, and 7.228 Added example schedule of investments in and advances to affiliates, based on issuance of SEC Release Nos. 33-10231; 34-79095; IC-32314.
Paragraphs 7.221–.228 Revised due to passage of time.
Paragraph 7.232 Revised due to passage of time.
Paragraph 8.32 Revised due to passage of time.
Paragraph 8.37 Added due to issuance of FASB ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business.
Former update 8-1 before paragraph 8.38 Deleted due to passage of time.
Paragraphs 8.55–.57 Revised due to passage of time.
Paragraph 10.03 Revised due to passage of time.
Paragraph 10.30–.31 Deleted due to passage of time.
Paragraph 11.22 Revised to reflect issuance of SEC Release Nos. 33-10442; 34-82241; IC-32936.
Paragraph 11.28 Revised to reflect issuance of SEC Release Nos. 33-10231; 34-79095; IC-32314.
Paragraph 11.33 Revised due to effective date of Statement on Auditing Standards No. 132, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern.
Former update 12-1 before paragraph 12.01 Deleted due to passage of time.
Update 12-1 and footnote 6 to paragraph 12.06 Added due to issuance of Auditing Interpretation No. 4, Reporting on Audits Conducted in Accordance With Auditing Standards Generally Accepted in the United States of America and the Standards of the PCAOB.
Paragraphs 12.01–.02 Revised due to passage of time.
Update 12-2 before paragraph 12.20 Revised due to passage of time.
Example reports in paragraphs 12.21, 12.23, and 12.25–.28 including footnotes Revised to reflect issuance of PCAOB Release No. 2017-001, The Auditor's Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion.
Former example report 1-B in paragraph 12.27 Deleted due to passage of time.
Former update 12-3 before paragraph 12.29 Deleted due to passage of time.
Paragraphs 12.29–.35 including example report Revised to reflect issuance of SEC Release Nos. 33-10231; 34-79095; IC-32314 (adoption of new form N-CEN and rescission of Form N-SAR).
Example report in paragraph 12.35 Revised to reflect issuance of PCAOB Release No. 2017-001.
Paragraph 12.36 including example report and footnotes Updated to reflect outcome of Expert Panel (EP) discussion as documented in the EP meeting highlights of September 2017 (performance under AICPA standards of a report on examinations of securities pursuant to Rules 17f-1 and 17f-2 under the 1940 Act).
Paragraph 12.46 including footnote Revised due to passage of time.
Former example report in paragraph 12.46 Deleted due to passage of time.
Paragraphs 12.51–.52 Revised language in example reports to conform to Statement of Position 12-1, Reporting Pursuant to the Global Investment Performance Standards.
Appendix B Updated.
Appendix C Updated.
Appendix F Updated.
Appendix K Added to reflect issuance by the AICPA Asset Management Revenue Recognition Task Force of certain asset management accounting implementation issues.
Glossary Updated.

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