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Proposed Statement On Standards For Accounting And Review Services : Elimination Of Certain References To Statements On Auditing Standards And Incorporation Of Appropriate Guidance Into Statements On Standards For Accounting And Review Services;Elimination Of Certain References To Statements On Auditing Standards And Incorporation Of Appropriate Guidance Into Statements On Standards For Accounting And Review Services; Exposure Draft (American Institute Of Certified Public Accountants), 2006, Dec. 1, American Institute Of Certified Public Accountants. Accounting And Review Services Committee
Proposed Statement On Standards For Accounting And Review Services : Elimination Of Certain References To Statements On Auditing Standards And Incorporation Of Appropriate Guidance Into Statements On Standards For Accounting And Review Services;Elimination Of Certain References To Statements On Auditing Standards And Incorporation Of Appropriate Guidance Into Statements On Standards For Accounting And Review Services; Exposure Draft (American Institute Of Certified Public Accountants), 2006, Dec. 1, American Institute Of Certified Public Accountants. Accounting And Review Services Committee
Exposure Drafts, Comment Letters, and Statements of Position
The proposed Statement would amend AR sections 100, 200, 300, and 400. In addition, the following Interpretations are anticipated to be affected: Withdraw Interpretation No. 4, “Discovery of Information After the Date of the Accountant’s Report,†of AR section 100. Amend Interpretation No. 11, “Reporting on Uncertainties†by eliminating the reference to SAS No. 59, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern and incorporating guidance specific to compilation and review engagements. Conform Interpretation No. 15, “Differentiating a Financial Statement Presentation From a Trial Balance,†of AR section 100 by deleting the “typical titles†for …
Proposed Statement On Standards For Accounting And Review Services : Omnibus Statement On Standards For Accounting And Review Services, 2005 ;Omnibus Statement On Standards For Accounting And Review Services, 2005; Exposure Draft (American Institute Of Certified Public Accountants), 2005, March 18, American Institute Of Certified Public Accountants. Accounting And Review Services Committee
Proposed Statement On Standards For Accounting And Review Services : Omnibus Statement On Standards For Accounting And Review Services, 2005 ;Omnibus Statement On Standards For Accounting And Review Services, 2005; Exposure Draft (American Institute Of Certified Public Accountants), 2005, March 18, American Institute Of Certified Public Accountants. Accounting And Review Services Committee
Exposure Drafts, Comment Letters, and Statements of Position
This proposed Statement will: 1. Amend SSARS No. 1, Compilation and Review of Financial Statements (AICPA, Professional Standards, vol. 2, AR sec. 100), to require the accountant to communicate any fraud that comes to his or her attention, even if the matter is considered inconsequential; 2. Amend SSARS No. 2, Reporting on Comparative Financial Statements (AICPA, Professional Standards, vol. 2, AR sec. 200), to allow for the successor accountant to compile or review a restatement adjustment when prior period financial statements have been changed; 3. Amend SSARS No. 1 to provide guidance regarding when an accountant should consider obtaining an …