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Exposure Draft of Proposed SSARS Published

The American Institute of Certified Public Accountants’ (“AICPA”) Accounting and Review Services Committee is currently accepting public comments for the exposure draft, Proposed Statements on Standards for Accounting and Review Services Compilation of Prospective Financial Information, Compilation of Pro Forma Financial Information, Omnibus Statement on Standards for Accounting and Review Services – 2016. The exposure draft contains the following proposed Statements on Standards for Accounting and Review Services (SSARS):

  1. Compilation of Prospective Financial Information.
  2. Compilation of Pro Forma Financial Information, which would replace AR section 120, Compilation of Pro Forma Financial Information(AICPA, Professional Standards).
  3. Omnibus Statement on Standards for Accounting and Review Services—2016, which would include changes to AR-C sections 60, General Principles for Engagements Performed in Accordance With Statements on Standards for Accounting and Review Services; 70, Preparation of Financial Statements; 80, Compilation Engagements; and 90, Review of Financial Statements.

Comments on the exposure draft are due Friday, May 6, 2016.

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