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AICPA Issues New Forensic Accounting Standards

The American Institute of CPAs (AICPA) issued new professional standards for members who perform forensic accounting services engagements. The Statement on Standards for Forensic Services No. 1 (SSFS 1) provides authoritative guidance for AICPA members providing litigation and investigative services. Specifically, the statement defines litigation and investigation for accounting purposes, outlines key considerations for client and provider relationships, and establishes boundaries on the services members can provide. Read more (PDF) at the AICPA website.