Compilation, Preparation and Review Alerts 


    The AICPA produces a number of Alerts that provide auditors of financial statements with an overview of recent economic, industry, technical, regulatory, and professional developments that may affect the audits and other engagements they perform. Updated annually, alerts also help identify the significant business risks that may result in the material misstatement of a client's financial statements. Audit Risk Alerts also can be used by an entity’s internal management to address areas of audit concern.

    Financial Reporting Alerts are designed to be used by members of an entity’s financial management and audit committee to identify and understand current accounting and regulatory developments affecting the entity’s financial reporting, especially those that are the result of recent economic developments. They are intended to help you achieve a more robust understanding of the current economic environment in which your entity is operating and are an important tool to help you identify the significant risks that may result in the material misstatement of your entity’s financial statements.

    Auditing Guidance in AICPA Alerts are authoritative with respect to:
    • Audit Guidance in accordance with AU-C section 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance With Generally Accepted Auditing Standards
    • Compilation Preparation and Review Guidance in accordance with AR section 60, Framework for Performing and Reporting on Compilation and Review Engagements
    • Attestation Guidance in accordance with AT section 50, SSAE Hierarchy
    Select a specific AICPA alert family, for more information.


    Audit Risk Alerts Compilation, Preparation, and Review Alerts Other Alerts

    General Accounting and Auditing Developments

    Employee Benefit Plans Industry Developments

    Government Auditing Standards and Circular A-133 Developments

    Not-for-Profit Entities Industry Developments

     

    Developments in Preparation, Compilation, and Review Engagements

    Independence and Ethics Developments



     

    Developments in Preparation, Compilation, and Review Alerts

    Developments in Preparation, Compilation, and Review Engagements


    The AICPA Compilation and Review Alert Developments in Preparation, Compilation, and Review Engagements will help you create a smooth transition into performing your engagements under the new SSARS 21 standard. The new standard will have a major impact in this core area of practice, and this Alert was created to help CPAs meet the challenge of remaining compliant through the transition. You’ll find targeted discussion of new developments, strategies to help you identify sources of risk, and best practices to help you prepare for issues you may face in your current and future engagements.

    Key Benefits:

    • Recently Issued SSARS No. 21, Statements on Standards For Accounting and Review Services: Clarification and Recodification
    • Revisions to Interpretation No. 101-3, "Nonattest Services"
    • Proposed SSARS, Compilation of Prospective and Pro forma Financial Information

    Updates:

    • SSARS No. 21, Statements on Standards For Accounting and Review Services: Clarification and Recodification implementation guidance

    Members interested in the companion AICPA Preparation, Compilation, and Review Engagements Guide can purchase an online bundle of both the Alert and Guide at a discounted price.

     

    Paperback

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