At its May 5th open meeting, the AICPA Professional Ethics Executive Committee (PEEC) agreed to defer the effective dates of three (3) independence interpretations for one (1) year. They are:
- Information system services (extended until 1/1/22; early implementation allowed)
- State and local government client affiliates (extended until years beginning after 12/15/21)
- Leases (extended until fiscal years beginning after 12/15/20; early implementation allowed)
PEEC granted the extension to try to accommodate firms that are experiencing significant challenges during the COVID-19 crisis.
