The following resources and information will be helpful tools in providing compilation and review services and will help you understand and stay informed of new developments.
- Statement on Standards for Accounting and Review Services (SSARS) No. 19, Compilation and Review Engagements
- Compilation and Review Engagements Guide
The AICPA Audit and Accounting Guide series is one of the profession’s most respected reference tools. The AICPA Guide Compilation and Review Engagements is the latest addition to that series. The Guide provides compilation and review guidance to practitioners for tackling complex engagement issues
- White Paper – Significant Change to Compilation Reporting Requirements When Independence Is Impaired - This white paper provides guidance in a Q&A format for practitioners that want to disclose their reasons for a lack of independence in a compilation engagement. It is the only part of the new SSARS standard that can be adopted early.
- SSARS No. 19 Toolkit
SSARS No. 19 impacts compilations and reviews of financial statements for fiscal periods ending on or after December 15, 2010. This toolkit will give you an overview and tools to assist you in implementation of the statement and communicating the impact of SSARS No.19.
- A new video from Mike Glynn, AICPA Technical Manager -- Audit & Attest Standards, is also available discussing the issuance of SSARS No. 19. Learn more by watching the video.
Reliability Initiative: Project undertaken by the AICPA with strong advocacy and encouragement of PCPS which aims to change the performance and reporting of review engagements.
Research Report - "An Empirical Test of the Reliability Framework: Evidence from Banking Professionals"
The research discussed in this report supplied valuable background information and support for an effort that has culminated in the release of proposed new standards that will make it significantly easier for our members to provide needed services to their private company clients. Click here to download the Research Report.