In summary, we think the article articulates many excellent points, and so we thank the authors for calling attention to SSARS
21; however, readers should use their own professional judgement regarding the legend.
Therefore, licensees, who as their highest level of services perform preparation engagements in accordance with SSARS
21, will need to complete eight hours of A&A and four hours of fraud as part of their 80 hours of CPE.
13 and 14 are effective for engagements entered into after Dec.
Since its introduction in SSARS
1 in 1978, I have held that that compilation, a service in which the CPA uses virtually none of the skills his professional designation implies, should be characterized as less than a professional service, if permitted at all.
21, the accountant will perform a review or a compilation only when engaged to do so, and each of these engagements will result in the issuance of a report.
and issue a compilation report indicating a lack of independence.
Subsequent to SSARS
1, many leaders in the profession lobbied for standards that would allow the preparation of financial statement services that did not require even the application of compilation procedures.
These new standards have a SSARS
designation to differentiate them from standards designated "AR.
Submission worked well as a trigger for the compilation service when SSARS
The provisions of SSARS
8 became effective for financial statements submitted after December 31, 2000.
A topic of several recent posts has been SSARS
21, Statements on Standards for Accounting and Review Services: Clarification and Recodification.
Failure to obtain an engagement letter or revise the letter for SSARS