Three final statements were issued by the Financial Accounting Standards Board.
Statement rescinded. Statement no.111, Rescission of FASB Statement no. 32 and Technical Corrections, rescinds Statement no. 32, Specialized Accounting and Reporting Principles and Practices in AICPA Statements of Position and Guides on Accounting and Auditing Matters, and its related pronouncements.
Statement no. 32 specified which American Institute of CPAs SOPs and guides were preferable for purposes of justifying a change in accounting principle under Accounting Principles Board Opinion no. 20, Accounting Changes.
In January 1992, the AICPA issued Statement on Auditing …