Omnibus Statement on Standards for Accounting and Review Services-2018 This standard contains amendments to revise applicability of SSARSs and to clarify and revise requirements throughout AR-C sections 60, 70, 80, and 90. ![]() Omnibus Statement on Standards for Accounting and Review Services-2016 This section contains performance and reporting requirements and application guidance for accountants engaged to perform a compilation engagement on pro forma financial information. 19, with few changes.Ĭompilation of Pro Forma Financial Information Review of Financial Statements This section contains the requirements and guidance related to review engagements and is essentially a clarity redraft of the review literature in SSARS No. This section contains the requirements and guidance related to compilation engagements. This section contains the requirements and guidance related to engagements to prepare financial statements. General Principles for Engagements Performed in Accordance With Statements on Standards for Accounting and Review Services This section includes the general principles for engagements performed in accordance with SSARSs. ![]() Pre-clarity Statements on Standards for Accounting and Review Services (SSARSs).The following standards have been superseded but are available for historical purposes only. 21 is effective for reviews, compilations, and engagements to prepare financial statements for periods ending on or after December 15, 2015. Early implementation is permitted.īelow are the standards and related interpretations that are current as of June 1, 2021. 21 includes significant revisions that affect the standards for accountants in public practice who prepare financial statements for their clients. ![]() 21 represents the AICPA’s Accounting and Review Services Committee's efforts to clarify and revise the standards for reviews, compilations, and engagements to prepare financial statements. 21, Statements on Standards for Accounting and Review Services: Clarification and Recodification, was issued in October 2014. An interpretation is not as authoritative as a SSARS, but members should be aware that they may have to justify a departure from an interpretation if the quality of their work is questioned. Interpretations are issued after all members of ARSC have been provided an opportunity to consider and comment on whether the proposed interpretation is consistent with SSARSs. Interpretations are issued to provide guidance on the application of SSARSs. 1.300.001) of the Institute's Code of Professional Conduct. 1.310.001) and the "Compliance With Standards Rule" (ET sec. AICPA Council has designated ARSC as a body to establish technical standards under the "General Standards Rule" (ET sec. Statements on Standards for Accounting and Review Services (SSARSs) are issued by the AICPA Accounting and Review Services Committee (ARSC), the senior technical committee of the AICPA designated to issue pronouncements in connection with the unaudited financial statements or other unaudited financial information of an entity that is not required to file financial statements with a regulatory agency in connection with the sale or trading of its securities in a public market.
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