Codification of Statements on Standards for Accounting and Review Services : As of May 2017.

Intro -- Codification of Statements on Standards for Accounting and Review Services -- PREFACE -- WHAT'S NEW IN THIS EDITION -- TABLE OF CONTENTS -- HOW THIS PUBLICATION IS ORGANIZED -- AR-C Cross-References to SSARSs -- AR-C Introduction -- AR-C Glossary -- AR-C Section -- AR-C Section 60 -- General Principles for Engagements Performed in Accordance With Statements on Standards for Accounting and Review Services -- Introduction -- Scope of This Section -- Effective Date -- Objective -- Definitions -- Requirements -- Ethical Requirements -- Professional Judgment -- Conduct of the Engagement in Accordance With SSARSs -- Engagement Level Quality Control -- Acceptance and Continuance of Client Relationships and Engagements -- Application and Other Explanatory Material -- Financial Statements -- Scope of This Section (Ref: par. .01 and .04) -- Definitions -- Ethical Requirements -- Professional Judgment -- Conduct of an Engagement in Accordance With SSARSs -- Engagement Level Quality Control -- Acceptance and Continuance of Client Relationships and Engagements -- Exhibit-Other Preparation, Compilation and Review Publications -- AR-C Section 70 -- Preparation of Financial Statements -- Introduction -- Scope of This Section -- The Preparation Engagement -- Effective Date -- Objective -- Definitions -- Requirements -- General Principles for Performing Engagements to Prepare Financial Statements -- Acceptance and Continuance of Client Relationships and Engagements to Prepare Financial Statements -- Agreement on Engagement Terms -- The Accountant's Knowledge and Understanding of the Entity's Financial Reporting Framework -- Preparing the Financial Statements -- Preparing Prospective Financial Information -- Financial Statements That Omit Substantially All the Disclosures Required by the Applicable Financial Reporting Framework.

Documentation in a Preparation Engagement -- Application and Other Explanatory Material -- Scope of This Section -- The Preparation Engagement -- Definitions -- Agreement on Engagement Terms -- The Accountant's Knowledge and Understanding of the Entity's Financial Reporting Framework -- Preparing the Financial Statements -- Financial Statements That Omit Substantially All the Disclosures Required by the Applicable Financial Reporting Framework -- Documentation in a Preparation Engagement -- Appendix-Preparation of Financial Statements Versus Assistance in Preparing Financial Statements -- Exhibit-Illustrative Engagement Letter -- AR-C Section 80 -- Compilation Engagements -- Introduction -- Scope of This Section -- The Compilation Engagement -- Effective Date -- Objective -- Definitions -- Requirements -- General Principles for Performing and Reporting on Compilation Engagements -- Independence -- Acceptance and Continuance of Client Relationships and Compilation Engagements -- Agreement on Engagement Terms -- The Accountant's Knowledge and Understanding of the Entity's Financial Reporting Framework -- Compilation Procedures -- The Accountant's Compilation Report -- The Accountant's Compilation Report on Financial Statements Prepared in Accordance With a Special Purpose Framework -- Reporting When the Accountant Is Not Independent -- Reporting on Financial Statements That Omit Substantially All the Disclosures Required by the Applicable Financial Reporting Framework -- Reporting Known Departures From the Applicable Financial Reporting Framework -- Supplementary Information That Accompanies Financial Statements and the Accountant's Compilation Report Thereon -- Required Supplementary Information -- Documentation in a Compilation Engagement -- Application and Other Explanatory Material -- Scope of This Section -- Definitions -- Independence.

Acceptance and Continuance of Client Relationships and Compilation Engagements -- Agreement on Engagement Terms -- The Accountant's Knowledge and Understanding of the Entity's Financial Reporting Framework -- Compilation Procedures -- The Accountant's Compilation Report -- The Accountant's Compilation Report on Financial Statements Prepared in Accordance With a Special Purpose Framework -- Reporting When the Accountant Is Not Independent -- Reporting on Financial Statements That Omit Substantially All the Disclosures Required by the Applicable Financial Reporting Framework -- Reporting Known Departures From the Applicable Financial Reporting Framework -- Supplementary Information That Accompanies Financial Statements and the Accountant's Compilation Report Thereon -- Required Supplementary Information -- Exhibit A-Illustrative Engagement Letters -- Exhibit B-Illustrative Examples of the Accountant's Compilation Report on Financial Statements -- AR-C Section 90 -- Review of Financial Statements -- Introduction -- Scope and Applicability of This Section -- Effective Date -- Objective -- Definitions -- Requirements -- General Principles for Performing and Reporting on Review Engagements -- Independence -- Acceptance and Continuance of Client Relationships and Review Engagements -- Agreement on Engagement Terms -- Communication With Management and Those Charged With Governance -- Understanding of the Industry -- Knowledge of the Entity -- Designing and Performing Review Procedures -- Analytical Procedures -- Inquiries of Members of Management Who Have Responsibility for Financial and Accounting Matters -- Reading the Financial Statements -- Using the Work of Other Accountants -- Reconciling the Financial Statements to the Underlying Accounting Records -- Evaluating Evidence Obtained From the Procedures Performed -- Written Representations.

Reporting on the Financial Statements -- Accountant's Review Report on Financial Statements Prepared in Accordance With a Special Purpose Framework -- Comparative Financial Statements -- Communicating to Management and Others Regarding Fraud or Noncompliance With Laws and Regulations -- Emphasis-of-Matter and Other-Matter Paragraphs in the Accountant's Review Report -- Known Departures From the Applicable Financial Reporting Framework -- Alert That Restricts the Use of the Accountant's Review Report -- The Accountant's Consideration of an Entity's Ability to Continue as a Going Concern -- Subsequent Events and Subsequently Discovered Facts -- Reference to the Work of Other Accountants in an Accountant's Review Report -- Supplementary Information That Accompanies Reviewed Financial Statements and the Accountant's Review Report Thereon -- Required Supplementary Information -- Change in Engagement From Audit to Review -- Review Documentation -- Application and Other Explanatory Material -- Scope and Applicability of This Section -- Objective -- Definitions -- Independence -- Acceptance and Continuance of Client Relationships and Review Engagements -- Agreement on Engagement Terms -- Communication With Management and Those Charged With Governance -- Understanding of the Industry -- Knowledge of the Entity -- Designing and Performing Review Procedures -- Analytical Procedures -- Inquiries of Members of Management Who Have Responsibility for Financial and Accounting Matters -- Reconciling the Financial Statements to the Underlying Accounting Records -- Evaluating Evidence Obtained From the Procedures Performed -- Written Representations -- Reporting on the Financial Statements -- Accountant's Review Report on Financial Statements Prepared in Accordance With a Special Purpose Framework -- Comparative Financial Statements.

Communicating to Management and Others Regarding Fraud or Noncompliance With Laws and Regulations -- Emphasis-of-Matter and Other-Matter Paragraphs in the Accountant's Review Report -- Known Departures From the Applicable Financial Reporting Framework -- Alert That Restricts the Use of the Accountant's Review Report -- The Accountant's Consideration of an Entity's Ability to Continue as a Going Concern -- Subsequent Events and Subsequently Discovered Facts -- Reference to the Work of Other Accountants in an Accountant's Review Report -- Supplementary Information That Accompanies Reviewed Financial Statements -- Required Supplementary Information -- Change in Engagement From Audit to Review -- Review Documentation -- Appendix A-Analytical Procedures the Accountant May Consider Performing When Conducting a Review of Financial Statements -- Appendix B-Unusual or Complex Situations to Be Considered by the Accountant When Performing Inquiry Procedures in a Review of Financial Statements -- Exhibit A-Illustrative Engagement Letters -- Exhibit B-Illustrative Representation Letter -- Exhibit C-Illustrations of Accountant's Review Reports on Financial Statements -- AR-C Section 9090 -- Review of Financial Statements: Accounting and Review Services Interpretation of Section 90 -- 1. Considerations Related to Reviews Performed in Accordance With International Standard on Review Engagements (ISRE) 2400 (Revised), Engagements to Review Historical Financial Statements -- AR-C Section 120 -- Compilation of Pro Forma Financial Information -- Introduction -- Scope of This Section -- Effective Date -- Objective -- Definition -- Requirements -- General Principles for Compilations of Pro Forma Financial Information -- Independence -- Acceptance and Continuance of Client Relationships -- Agreement on Engagement Terms.

The Accountant's Knowledge and Understanding of the Entity's Financial Reporting Framework.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.