Standards Tracker - Compilation, Review and Preparation 

 

Financial reporting standards are ever-changing making it challenging to keep up. The table below provides a quick reference to recently issued compilation, review and preparation standards, complete with effective dates, summaries, and links to the standards themselves. Browse by Type:



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Standard Type
Number
NameFilter
Phase
Issue DateFilterEffective DateFilter
Topic/Industry
SummaryFilter
SSARS23Final Standard
October 2016
The revisions to AR-C section 60 and AR-C section 90 are effective upon issuance. The revisions to AR-C section 70 are effective upon issuance with the exception of the revisions to paragraphs.01 and .A1 and new paragraphs .19 and .A1–.A2, which are effective for prospective financial information prepared on or after May 1, 2017. The revisions to AR-C section 80 are effective upon issuance with the exception of the revisions to paragraphs .01 and .A1 and new paragraphs .24–.25, .A1–.A2, and .A5 which are effective for compilation reports on prospective financial information dated on or after May 1, 2017.
This standard amends AR-C section 60, General Principles for Engagements Performed in Accordance With Statements on Standards for Accounting and Review Services (AICPA, Professional Standards), AR-C section 70, Preparation of Financial Statements (AICPA, Professional Standards), AR-C section 80, Compilation Engagements (AICPA, Professional Standards), and AR-C section 90, Review of Financial Statements (AICPA, Professional Standards).
SSARS22Final Standard
September 2016
This standard is effective for compilation reports on pro forma financial information dated on or after May 1, 2017.
This standard revises AR section 120, Compilation of Pro Forma Financial Information, by putting the requirements and guidance in clarity format. The clarified standards are designed to make the standards easier to read, understand, and apply.
SSARS21Final Standard
October 2014
For reviews, compilations, and engagements to prepare financial statements for periods ending on or after December 15, 2015. Early implementation is permitted.
Review of Financial Statements
Amends paragraph .01 of AR section 90 so that SSARSs do not apply when the provisions of SAS No. 100 apply.


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