AR 60–90: Compilation and Review of Financial Statements


Original Pronouncement Statements on Standards for Accounting and Review Services (SSARSs) 19, 20
Effective Date These statements are currently effective.
Applicability For the financial statement compilation engagements or reviews of financial statements.


In February 2011, the Accounting and Review Services Committee (ARSC) issued SSARS No. 20, Revised Applicability of Statements on Standards for Accounting and Review Services. SSARS No. 20 excludes, from the applicability of SSARSs, engagements to review interim financial statements when:

  • The accountant has audited the entity’s latest annual financial statements,
  • It is expected that the current year financial statements will be audited, and
  • The appointment of another accountant to audit the current year financial statements is not effective prior to the beginning of the period covered by the review.

These engagements would be performed in accordance with Statement on Auditing Standards (SAS) No. 100, Interim Financial Information, as amended (American Institute of Certified Public Accountants [AICPA], Professional Standards, AU Section 722, clarified AU-C Section 930 effective December 15, 2012).

SSARS No. 20 is effective for reviews of financial statements for periods beginning after December 15, 2011, with early application permitted.

In October 2011, the ARSC issued the following interpretations:

  • Interpretation ...

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