CPAs and Advisors with Your Growth in Mind

AICPA Committee Issues SSARS No. 24 Omnibus Statement

After a delayed release, the American Institute of Certified Public Accountants’ (“AICPA”) Accounting and Review Services Committee (“ARSC”) has finally issued Statement on Standards for Accounting and Review Services (“SSARS”) No. 24, Omnibus Statement on Standards for Accounting and Review Services – 2018 . SSARS No. 24 includes the following new or amended guidance: AR-C Section 100, Special Considerations—International Reporting Issues: This new AR-C Section 100 features guidance for compilation or review engagements when: Financial statements are prepared according to a financial reporting framework accepted in another country but is adopted by a designated body outside of the Council of the AICPA to set generally accepted accounting principles; and The engagement must be performed according to SSARS and another set of compilation and. Read More.

Topics: , , , , , , ,

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.

Topics: , , , , , ,