The attached issue of Heads Up summarizes the AICPA’s release of SOP 07-1, a long-awaited Statement of Position that clarifies which entities are within the scope of the AICPA Audit and Accounting Guide Investment Companies .

Heads Up, published by the National Office Accounting Standards and Communications Group of Deloitte & Touche LLP, provides in-depth summaries of recent accounting and financial reporting developments. This newsletter is published periodically as developments warrant, and is intended for a general audience of financial professionals, including CFOs, controllers and internal audit and accounting professionals.

Questions, comments, or suggestions concerning Heads Up should be directed to the Accounting Standards and Communications Group mailbox. We welcome and encourage your feedback.

View past issues of Heads Up.