Mich. Admin. Code R. 338.5102 - Standards of professional practice adopted by reference

Rule 102.

(1) The following standards are approved and adopted by reference:

(a) The standards issued by the American Institute of CPAs (AICPA), 220 Leigh Farm Road, Durham, North Carolina, 27707, in the publication titled "AICPA Professional Standards" updated June 15, 2022, and any statements issued as of the effective date of this rule, which are available at a cost of $289.00 from the institute's website at https://www.aicpa.org/cpe-learning/publication or at no cost from the institute's website at https://us.aicpa.org/research/standards.

(b) The standards issued by the Public Company Accounting Oversight Board (PCAOB), 1666 K Street NW, Suite 300, Washington, District of Columbia, 20006, in the publication titled "PCAOB Standards and Related Rules" 2022 edition, and any updates issued as of the effective date of this rule, which are available at a cost of $255.00 from the AICPA"s website at https://www.aicpa.org/cpe-learning/publication or at no cost from the AICPA"s website at https://pcaobus.org/oversight/standards.

(c) The auditing standards issued by the Government Accountability Office, 441 G Street, NW, Washington, District of Columbia, 20548, in the publication titled "Government Auditing Standards" 2018 Revision Technical Update April 2021, which are available at no cost on the Office's website at https://gaoinnovations.gov/yellowbook/.

(d) The standards issued by the International Auditing and Assurance Standards Board (IAASB), 529 5^th Avenue, New York, New York, 10017, in the publication titled "2021 Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements" issued on December 2, 2022, and any related pronouncements issued as of the effective date of this rule, which are available at no cost from the IAASB's website at https://www.iaasb.org/standards-pronouncements.

(e) The accounting standards issued by the Financial Accounting Standards Board (FASB), 801 Main Avenue, P.O. Box 5116, Norwalk, Connecticut, 06856, in the publication titled "FASB Accounting Standards Codification" as of December 2022, and any updates published as of the effective date of this rule, which are available at no cost from the board's website at https://asc.fasb.org.

(f) The accounting standards issued by the Governmental Accounting Standards Board (GASB), 801 Main Avenue, P.O. Box 5116, Norwalk, Connecticut, 06856, in the publication titled "GASB Codification" as of December 31, 2021, and any pronouncements published as of the effective date of this rule, which are available at no cost from the board's website at https://gars.gasb.org/.

(g) The accounting standards issued by the International Accounting Standards Board, 30 Cannon Street, London EC4M 6XH, United Kingdom, in the publication titled "2022 International Financial Reporting Standards IFRS" issued on January 1, 2022, and any pronouncements issued as of the effective date of this rule, which are available at a cost of "81.00 from the board's website at http://www.ifrs.org.

(h) The United States Securities and Exchange Commission (SEC) rules contained in 17 CFR chapter 2 and the SEC"s Interpretative Releases and Policy Statements issued as of the effective date of this rule. The SEC rules may be obtained free of charge at http://www.ecfr.gov. The SEC's Interpretative Releases and Policy Statements may be obtained free of charge at https://www.sec.gov.

(2) Copies of the standards adopted in this rule are available for inspection and distribution at the cost of 10 cents per page from the Department of Licensing and Regulatory Affairs, Bureau of Professional Licensing, 611 W. Ottawa Street, P.O. Box 30670, Lansing, Michigan, 48909.

(3) A licensee shall satisfy the applicable standards adopted in subrule (1) of this rule.

Notes

Mich. Admin. Code R. 338.5102

2007 AACS; 2013 AACS; 2017 AACS; 2019 AACS; 2021 AACS; 2022 AACS; 2023 MR 20, Eff. 10/24/2023