We anticipate this revision of the standards, when finalized, will become effective for financial audits of periods ending on or after January 1, 2003, and for attestation engagements and performance audits beginning on or after January 1, 2003.
The standards will apply to audits covering 2003 and later.
Whether or not this attitude is morally vacant and ultimately self-defeating, as its critics charge, it's hard to see how anyone who seriously holds these views, whatever you call them, could really have had much to argue about with the America Firsters in the late 1930s.