SSARS No. 19 impacts compilations and reviews of financial statements for periods ending on or after December 15, 2010 through December 15, 2015. NOTE: SSARS No. 21 applies to compilations and reviews of financial statements for periods ending on or after December 15, 2015. PCPS is developing a SSARS 21 toolkit and additional information is provided by the AICPA's Financial Reporting Center.
While these tools and resources were developed to support you in the implementation and communication of SSARS No. 19 in your firm and with your clients, they are not meant to replace the guidance and direction outlined in SSARS No. 19.
SSARS No. 19 Implementation Checklist
Begin your SSARS No. 19 Toolkit journey here. From understanding the standard and educating your team, through communicating with your client, this practical checklist walks you through the steps of putting the new standard into operation in your firm. The implementation steps are provided in order and include the toolkit resources necessary to complete the action, as well as listing and linking to additional resources you may find of interest.
Comparative Overview of Compilation, Review, and Audit Brochure
The level of service provided in an engagement is generally determined by the needs of the client, and the requirements of their creditors or investors. The higher the level of service provided, the more time required of the practitioner and the more cost associated with the engagement. This brochure is provided to assist you in educating your client in the differences between compilation, review and audit engagements, and has been updated for SSARS No. 19 guidance.
SSARS No. 19 Educate Your Client Communications
Available here you will find a template newsletter which can be used in your firm’s client newsletters or on your firm’s website. This newsletter is designed for practitioners to assist clients with understanding the differences between the requirements of compilations, reviews, and audits and to communicate the impact of SSARS No. 19 on the client’s engagement.
SSARS No. 19 Frequently Asked Questions
The FAQs document is intended to address the most common practitioner questions related to applying SSARS No. 19. In addition, it provides links to additional resources helpful in understanding and applying SSARS No. 19.
SSARS No. 19 Overview Powerpoint
This powerpoint presentation is designed for use by practitioners to educate their staff and clients about SSARS No. 19 and can be tailored to address specific client issues.
SSARS No. 19 Management Representation Checklist For Review Engagements
As part of your review engagements, client management is required to provide the practitioner a written letter that includes documentation about representations made during the review. This checklist is designed to assist you in requesting representations required for all financial statements and periods covered by the accountant’s review report ending on or after December 15, 2010 through December 15, 2015.
Additional Information and CPE Products
Please check out AICPA Store and search “compilation and review” for an up-to-date listing of educational resources.