This course covers SSARS requirements for preparing, compiling and reviewing financial statements through SSARS 27. 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 clarified 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. SSARS 27 modifies the applicability of AR-C 70 when engaged to prepare financial statements.
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
• Coverage of the amendments to the SSARS contained in SSARS 26 and SSARS 27
