ASB to consider one-year deferral of effective dates

April 7, 2020

ASB to consider one-year deferral of effective dates

JofA Article written by By Ken Tysiac

The AICPA Auditing Standards Board will consider April 20 whether to defer for one year the effective dates of Statements on Auditing Standards Nos. 134 through 140. The deferral is being considered to give firms relief amid the coronavirus pandemic.

The effective dates for seven recently issued generally accepted auditing standards may be deferred by one year when the AICPA Auditing Standards Board (ASB) holds a special open meeting from 2 to 4 p.m. on April 20 to discuss relief due to the coronavirus pandemic.

At the meeting, the ASB will discuss and vote on a final standard that would defer the effective dates of Statements on Auditing Standards (SASs) No. 134 through 139, as well as SAS No. 140, which is scheduled to be issued later this week.

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