Interpretations of Statements on Standards for Accounting and Review Services (SSARSs) are interpretive publications, as defined in AR-C section 60, General Principles for Engagements Performed in Accordance With Statements on Standards for Accounting and Review Services. Interpretive publications are recommendations on the application of SSARSs in specific circumstances, including engagements for entities in specialized industries.
An interpretive publication is issued under the authority of the AICPA Accounting and Review Services Committee (ARSC) after all ARSC members have been provided an opportunity to consider and comment on whether the proposed interpretive publication is consistent with SSARSs. Interpretations of the SSARSs are included in AR-C sections.
Although interpretive publications are not SSARSs, AR-C section 60 requires the accountant to consider applicable interpretive publications in the performance of an engagement in accordance with SSARSs because interpretive publications are relevant to the proper application of SSARSs in specific circumstances. If the accountant does not apply the SSARSs guidance in an applicable interpretive publication, the accountant should document how the requirements of SSARSs were complied with in the circumstances addressed by such SSARSs guidance.
Interpretive publications include:
Interpretations of SSARSs, which are included in AR-C sections of AICPA Professional Standards
Exhibits to SSARSs, which are included in AR-C sections of AICPA Professional Standards
AICPA Guide Preparation, Compilation, and Review Engagements, which is listed in AU-C Appendix D of AICPA Professional Standards
Guidance on reviews, compilations, and engagements to prepare financial statements included in AICPA Audit and Accounting Guides
AICPA Statements of Position, to the extent those statements are applicable to such engagements
There are no recently issued preparation, compilation, and review interpretations.