Revised compilation and review reporting requirements

https://www.journalofaccountancy.com/news/2018/feb/compilation-and-review-report-ssars-24-201818423.html

SSARS 23

http://www.journalofaccountancy.com/news/2016/oct/ssars-23-201615395.html

Reviews, compilations and engagements to prepare F/S

http://www.aicpa.org/interestareas/frc/reviewcompilationpreparation/pages/resources-for-ssars21.aspx The AICPA's Statement on Standards for Accounting and Review Services No. 21 page of resources and background

SSARS 21 a significant revision to nonaudit standards

http://www.journalofaccountancy.com/News/201411156.htm The use of cloud technology has blurred the lines of who prepared the financials. This standard attempts to provide guidance in the area of accounting and reviews, preparation, and compilation, with inclusion of sections 60, 70, and 80 respectively. Implementation date is for periods ending on or after 12/15/15 although earlier implementation is encouraged for those smaller firms seeking efficiencies.

SSARS #19

Statement on Standards for Accounting and Review Services No. 19, Compilation and Review Engagements, was officially issued Dec. 30, 2009 and is effective for compilations and reviews of financial statements for periods ending on or after Dec. 15, 2010, with one exception. That exception, which may be implemented immediately, permits an accountant to include a description in the accountant's compilation report regarding the reason(s) for an independence impairment. Major new provisions that will be effective on or after Dec. 15, 2010, include introducing the term "review evidence," incorporating a discussion of materiality in the context of a review engagement and requiring the CPA to obtain an engagement letter for all SSARS engagements. For resources related to the new standard, visit www.aicpa.org/reliability.