This course covers SSARS requirements for preparing, compiling and reviewing financial statements through SSARS 26. With SSARS 21, the AICPA Accounting and Review Services Committee (ARSC) introduced the Preparation service to SSARS and rewrote the Compilation and Review Standards in a clear format. SSARS 22 and 23 made minor modifications to SSARS 21. SSARS 24 and 25 made substantive modifications to the SSARS, mainly when performing review engagements. SSARS 26 updates the SSARS with conforming changes made necessary by the new Quality Management standards.
Learning Objectives
• Identify preparation of financial statement engagement requirements.
• Identify compilation engagement requirements.
• Identify review engagement requirements.
Major Topics
• SSARS Codification requirements
• SSARS engagements: preparation of financial statements, compilation of financial statements and proforma financial information
• Review of financial statements
• Overview coverage of the amendments to the SSARS contained in SSARS 26
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