Review, Compilation and Preparation
Accounting & Financial Reporting | Industry Insights | Audit & Attest | Review, Compilation & Preparation | Assurance & Advisory
If you perform compilation, review or financial statement preparation engagements, the information and resources here will help you stay informed of news, resources and information regarding Statements on Standards for Accounting and Review Services to help you perform your review, compilation, or financial statement preparation engagements, and be aware of common pitfalls in these engagements.
Accounting and Review Services Committee
The Accounting and Review Services Committee (ARSC) promulgates Statements on Standards for Accounting and Review Services (SSARS) and, as a part of its due process, releases Exposure Drafts of proposed SSARS. The AICPA also issues interpretive and other publications to assist practitioners in understanding and applying the standards.
ARSC Issues SSARS No. 25
The ARSC has issued SSARS No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions, to amend AR-C sections 60, 70, 80, and 90 in AICPA Professional Standards. SSARS No. 25 will result in more consistent performance of engagements performed in accordance with SSARSs by aligning engagement performance requirements more closely to both international standards and GAAS.
Visit our hub site, Recently Issued Review, Compilation and Preparation Standards: Information and Resources, for the latest information on these standards.