[The following footnote was effective for audits of financial statements for periods beginning on or after June 15, 2003. It was amended by the Board in PCAOB Release 2008-001 (January 29, 2008), effective November 15, 2008.

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AU 328 Footnote 4


fn 4 Paragraph 16 of Accounting Principles Board Opinion No. 20, Accounting Changes, states that the presumption that an entity should not change an accounting principle may be overcome only if the entity justifies the use of an alternative acceptable accounting principle on the basis that it is preferable.