SSARS No. 21 Risk Management and Implementation Issues

By Duncan B. Will, CPA / ABV / CFF, CFE

AICPA’s Accounting and Review Services Committee (ARSC) issued Statement on Standards for Accounting and Review Services (SSARS) No. 21 in October 2014. This Standard marked the conclusion of the ARSC’s Clarity Project, which clarified and modified existing standards covering the performance of review and compilation engagements for historic financial statements.

Alert — New California Law — Assembly Bill 1522, California Paid Sick Leave Law aka “Healthy Workplaces, Healthy Families Act of 2014”

On Sept. 10, 2014, Governor Jerry Brown signed AB 1522 — the Healthy Workplaces, Healthy Families Act of 2014 (“HWHFA”). Effective July 1, 2015, California law will mandate paid sick leave accrual for employees statewide at a rate of one hour for every 30 hours worked, allowing employers to cap employee use of paid sick leave to 24 hours (or three days) per year, with accompanying notice and recordkeeping requirements.

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