[13336]
April 3, 2001
TO: ACCOUNTING/TREASURERS COMMITTEE No. 10-01
RE: AICPA REQUIRES DISCLOSURE OF INVESTMENTS BY NONPUBLIC INVESTMENT
PARTNERSHIPS
The AICPA’s Accounting Standards Executive Committee recently issued Statement of
Position (SOP) 01-1, Amendment to Scope of Statement of Position 95-2, Financial Reporting by
Nonpublic Investment Partnerships, to include commodity pools. The SOP is effective for fiscal
periods ending after December 15, 2001.
The SOP amends SOP 95-2 to include within its scope investment partnerships that are
commodity pools subject to regulation under the Commodity Exchange Act of 1974.
Accordingly, these entities will be required to disclose positions in excess of 5 percent of net
assets, or risk a “qualified” opinion from their auditor.
The SOP may be obtained from the AICPA order department by calling 888-777-7077.
Gregory M. Smith
Director – Operations/
Compliance & Fund Accounting