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AICPA Accounting and Review Services Committee Meeting

From Tuesday to Thursday this week, the Accounting and Review Service Committee (“ARSC”) of the American Institute of Certified Public Accountants (“AICPA”) met in Boston, MA. Some of the agenda topics that were expected to be covered included: Proposed Statement on Standards for Attestation Engagements (SSAE), Selected Procedures; Draft proposed SSARS, Omnibus Statement on Standards for Accounting and Review Services 2018 International Standard on Review Engagements (ISRE) 2400 (Revised), Engagements to Review Historical Financial Statements (ISRE 2400 (Revised)), including comparison of ISRE 2400 (Revised) to AR-C Section 90, Review of Financial Statements; and Consideration of Inconsistency in AT-C Section 210.. Read More.

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AICPA’s Accounting and Review Services Committee to Meet in San Antonio

Beginning Tuesday, the American Institute of Certified Public Accountants’ (“AICPA”) Accounting and Review Services Committee will hold a three-day meeting in San Antonio, Texas. Topics expected to be covered include: Pro forma financial information and specified procedures; The proposed Statement on Standards for Accounting and Review Services (“SSARS”), Specified Procedures Engagements; The proposed SSRAS, Reference to the Work of Other Accountants in an Accountant’s Review Report and International Reporting Issues; and Additional guidance for SSARS engagements. Cherry Bekaert’s Melisa Galasso plans to be in attendance for part of next week’s meeting. The meeting materials and agenda are available on the AICPA website.

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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): Compilation of Prospective Financial Information. Compilation of Pro Forma Financial Information, which would replace AR section 120, Compilation of Pro Forma Financial Information(AICPA, Professional Standards). Omnibus Statement on Standards for Accounting. Read More.

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AICPA’s Accounting and Review Services Committee Completes SSARS No. 21

As part of its four-year Clarity Project, the American Institute of Certified Public Accountants’ (“AICPA”) Accounting and Review Services Committee (“ARSC”) has finalized a document to reformat nearly all of the ARSC’s guidance with clarified versions. Expected to be released in the next two months, the standards will be published as Statement on Standards for Accounting and Review Services (SSARS) No. 21, Statement on Standards for Accounting and Review Services: Clarification and Recodification. When SSARS No. 21 is published, the AICPA’s Accounting and Review Services sections will be labeled as AR-C Sections and eventually replace current AR Sections. Also to. Read More.

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AICPA Committee to Review Proposed Statement on Standards

Starting next Tuesday, the American Institute of Certified Public Accountants’ Accounting and Review Services Committee (“the Committee”) will hold a three-day meeting to discuss the proposed Statement on Standards for Accounting and Review Services (SSARS): Clarification and Recodification. Meeting in Providence, Rhode Island, the Committee will vote to release the SSARS as a final standard and discuss certain components such as Preparation of Financial Statements, Compilation Engagements and Review of Financial Statements. In addition, the Committee will discuss the proposed SSARS, Compilation of Prospective Financial Information and Pro Forma Financial Information. For the meeting’s full agenda , visit the AICPA website. Also. Read More.

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AICPA Committee to Release Standards Later This Year

At its three-day meeting in Baltimore, Maryland, last month, the American Institute of Certified Public Accountants’ (“AICPA”) Accounting and Review Services Committee (“ARSC”) voted to finalize its proposed Statement on Standards for Accounting and Review Services (SSARS) Review of Financial Statements. Expected to be released later this year, the standard will be released as soon as the ARSC finishes other parts of its Clarity Project. Also at the meeting, the ARSC reviewed comment letters submitted regarding the proposed SSARS Preparation of Financial Statements; Compilation Engagements, and Association with Financial Statements. As a result, the ARSC removed proposed requirements in regards. Read More.

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