What are Statements of Position?

Statements of position are recommendations regarding accounting issues that are occasionally produced by the American Institute of Certified Public Accountants (AICPA). Statements of position are intended to revise or improve upon the guidance included in previously-issued audit guides and accounting guides, as well as to provide guidance on specific audit topics. Once a statement of position is issued, the Financial Accounting Standards Board (FASB) may incorporate some elements of it in the FASB's formulation of new accounting standards. The last statement of position was issued in 2013.