On December 16, 2024 the AICPA’s Professional Ethics Executive Committee (PEEC) issued proposed revisions related to simultaneous employment or association with an attest client. Key changes from this exposure draft include a new definition of being simultaneously employed or associated with the client, as well as the addition of a new exception to the rules for USERRA/compliance with employment laws. In addition, the proposed revised interpretation uses both a rules-based approach and a principles-based approach in making determinations regarding independence. Comments are due March 16, 2025.