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The illustrative accountant’s compilation reports presented below are intended as illustrations that may be used to comply with the requirements of AR-C section 80A. The accountant’s compilation report will vary according to individual requirements and circumstances.
The illustrative accountant’s review reports presented below are intended as illustrations that may be used to comply with the requirements of AR-C section 90A. The accountant’s review report will vary according to individual requirements and circumstances.
Review of Financial Statements. Issue date, unless otherwise indicated: December 2009. See section 9090 for interpretations of this section. Source: SSARS No. 19; SSARS No. 20. .01 This section establishes standards and provides guidance on reviews of financial statements.
A compilation differs significantly from a review or an audit of fi-nancial statements. A compilation does not contemplate perform-ing inquiry, analytical procedures, or other procedures performed in a review.
Compilation. Compiled financial statements represent the most basic level of service CPAs provide with respect to financial statements.
To effectively review and assess financial statements, the audit committee needs to understand the context for financial reporting, considering inter alia the impact of relevant accounting standards, financial reporting developments and the overall requirement that the financial statements present a “true and fair view”.
24 lip 2019 · The AICPA Guide Preparation, Compilation, and Review Engagements (available at www.aicpastore.com), features information on implementing the Statements on Standards for Accounting and Review Services (SSARSs) and includes illustrative engagement and representation letters, sample compilation and review reports, detailed illustrations, and case ...
