Recently Issued Interpretations of the SSARSs
Published February 18, 2016
Paragraph .06 of AR-C section 60, General Principles for Engagements Performed in Accordance With Statements on Standards for Accounting and Review Services, defines interpretative publications as interpretations of SSARSs; exhibits to SSARSs; the AICPA Guide Compilation and Review Engagements, guidance on reviews, compilations, and engagements to prepare financial statements included in AICPA Audit and Accounting Guides; and AICPA Statements of Position, to the extent that those statements are applicable to such engagements. Interpretative publications are not SSARSs. Interpretative publications are recommendations on the application of SSARSs in specific circumstances, including engagements for entities in specialized industries. An interpretative publication is issued under the authority of the ARSC after all ARSC members have been provided an opportunity to consider and comment on whether the proposed interpretative publication is consistent with SSARSs.
Pursuant to paragraph .17 of AR-C section 60, the accountant is required to consider applicable interpretative publications in the performance of an engagement in accordance with SSARSs.