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SSARS #21 codified and clarifed all previous SSARS standards and was effective for financial statements ending on or after December 15, 2015 (Calendar 2015). It revised existing standards, upgraded service requirements, and introduced a new level of service – the “Preparation Engagement”.
SSARS #21 requires numerous practice issues for the various levels of service, including confirming the services to be provided with the client, attest vs. non-attest services, required procedures to be performed and documentation of them, and reporting requirements for each level of service. SSARS #21 also addresses specific issues overlooked in the original standard.
Recognize relevant features of each level of service under the SSARS standards
Determine which practice issues have the greatest impact on practitioners providing services under the SSARS standards, including maintaining independence when providing various non-attest services
Identify best practices for providing both attest and non-attest services
Review of applicable SSARS standards, including standards updates
Review of AICPA professional ethics changes
In-depth discussion of non-attest services
Review of independence issues for SSARS services
Overview of SSARS #21 – performance, documentation and other requirements
Detailed analysis of preparation vs. compilation engagements
CPAs currently providing preparation, compilation and review services
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