Statement on Standards for Accounting and Review Services (SSARS #24) established AR-C section 100 for engagements to compile or review financial statements prepared in accordance with a financial reporting framework accepted in another country; and engagements performed in accordance with both SSARS and another set of compilation and review standards. Many practitioners are still trying to understand the implications of the changes in SSARS #21.
This program will address the practical issues accountants face when implementing the new requirements.
The tools used in engagements often result in unnecessary or redundant procedures and documentation, with lower efficiency. We’ll examine efforts to reduce or eliminate these inefficiencies and improve the effectiveness of SSARS engagements.
Recognize the requirements of standards related to SSARS engagements.
Determine the type of engagement most appropriate for various circumstances and which standards apply.
Obtain assurance that independence has been maintained and applying the conceptual framework when performing nonattest services for attest clients.
Improve the efficiency and effectiveness of engagements related to unaudited financial statements.
SSARS #21 through 24
Relevant provisions of the AICPA Code of Professional Conduct and the Quality Control Standards.
Documentation required for SSARS engagements.
Performing efficient and effective engagements in accordance with SSARS.
CPAs who perform engagements involving unaudited financial statements for nonpublic clients.
Familiarity with SSARS and the performance of SSARS engagements.