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: , , , , , , ,

Exposure Draft on SSARS 21 Section 90 Issued

The American Institute of Certified Public Accountants has proposed changes to Statements on Standards for Accounting and Review Services (“SSARS”) 21, Clarification and Recodification, AR-C section 90, Review of Financial Statements. Issued as the exposure draft, Proposed Statement on Standards for Accounting and Review Services, Amendment to Statement on Standards for Accounting and Review Services No. 21 Section 90, Review of Financial Statements, the proposal would amend paragraphs .05, .81-.82 and .A128-.A131 of AR-C section 90. Other changes proposed include clarifications to the “supplementary information” definition, and updates to the accountant’s reporting responsibilities when such information is part of the. Read More.

Topics: , ,