Review of the SSARS Codification; the Preparation, Compilation and Review of Financial Statements standards. Obtain an understanding of the changes made by SSARS 25. 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 clarity format. SSARS 22 and 23 made minor modifications to SSARS 21. SSARS 24 and 25 made substantive modifications to the SSARS, particularly when performing review engagements. The AICPA produces a Codification which integrates all of the SSARS as they are issued. This program covers SSARS requirements for the preparation, compilation and review of financial statements through SSARS 25.
• Identify preparation of financial statement requirements.
• Identify compilation requirements.
• Identify review requirements.
• SSARS Codification requirements
• SSARS engagements: preparation of financial statements, compilation of financial statements and proforma financial information
• Review of financial statements
• Highlights of SSARS 25 Materiality in a Review of Financial Statements and Adverse Conclusions