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Codification of Statements on Standards for Accounting and Review Services: Numbers 21-24

Codification of Statements on Standards for Accounting and Review Services: Numbers 21-24

AICPA

ISBN: 978-1-948-30642-3

Jun 2018

336 pages

$47.99

Description

This edition includes the authoritative standards and interpretations applicable to preparation, compilation, and review engagements. These standards provide the requirements for practitioners performing these engagements. In addition to SSARS No. 21, which is now effective, this edition includes the newly released Statements on Standards for Accounting and Review Services (SSARS): SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services—2018. SSARS No. 24 creates a new section, AR-C section 100, Special Considerations— International Reporting Issues, to provide requirements and guidance when an accountant is engaged to perform a compilation or review in either of the following circumstances:

  • The financial statements have been prepared in accordance with a financial reporting framework generally accepted in another country.
  • The compilation or review is to be performed in accordance with both SSARSs and another set of compilation or review standards.

Additional significant changes attributed to SSARS No. 24 include amendments to the following sections:

  •  AR-C Section 60, General Principles for Engagements Performed in Accordance with Statements on Standards for Accounting and Review Services
  • AR-C Section 90, Review of Financial Statements

 This codification is fully indexed and arranged by subject. The guidance (and related interpretations to the extent applicable) help apply the standards in specific circumstances and clearly show amendments, deleted or superseded portions, and conforming changes due to the issuance of other authoritative guidance.

Section

How This Publication Is Organized 1

STATEMENTS ON STANDARDS FOR ACCOUNTING AND REVIEW SERVICES (Clarified) [AR-C]

AR-C Cross-References to SSARSs 3

AR-C Introduction 5

Statements on Standards for Accounting and Review Services (Clarified) 15

60 General Principles for Engagements Performed in Accordance With Statements on Standards for Accounting and Review Services 27

60A General Principles for Engagements Performed in Accordance With Statements on Standards for Accounting and Review Services 47

70 Preparation of Financial Statements 65

80 Compilation Engagements 79

90 Review of Financial Statements 115

90A Review of Financial Statements 199

9090 Review of Financial Statements: Accounting and Review Services Interpretation of AR-C Section 90 275

100 Special Considerations—International Reporting Issues 277

120 Compilation of Pro Forma Financial Information 289

AR-C Appendixes 303

AR-C Topical Index 307