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Wiley Practitioner's Guide to GAAS 2018, 2nd Edition
book

Wiley Practitioner's Guide to GAAS 2018, 2nd Edition

by Joanne M. Flood
April 2018
Beginner to intermediate content levelBeginner to intermediate
880 pages
28h 54m
English
Wiley
Content preview from Wiley Practitioner's Guide to GAAS 2018, 2nd Edition

AR-C 60 General Principles for Engagements Performed in Accordance with Statements on Standards for Accounting and Review Services

Original Pronouncement

Source Statement on Standards for Accounting and Review Services (SSARS) 21, effective for SSARS engagements for financial statements for periods ending on or after December 15, 2015, with early application permitted.

Technical Alert

In October 2016, the ARSC issued SSARS 23, Omnibus Statement on Standards for Accounting and Review Services – 2016. The Statement amends AR-C 60, AR-C 70, AR-C 80, and AR-C 90 and is effective upon issuance, except for paragraphs on prospective financial information in AR-C 70 and AR-C 80. Those paragraphs are effective for information prepared or for reports issued on or after May, 1, 2017. The changes in SSARS 23 are incorporated in each section.

Objectives and Limitations of SSARS Engagements

AR-C Section 60 establishes a framework and provides guidance for the performance of all SSARS engagements. Specific requirements for performing and reporting on SSARS engagements are in other AR-C sections. SSARSs engagements include an accountant's preparation, compilation, and review of management's financial statements. The financial statements that are the subject of a SSARSs engagement are those of the entity. SSARSs do not impose rsponsibilities on management nor override laws and regulations.

The accountant must perform a preparation, compilation, or review engagement in accordance with ...

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Publisher Resources

ISBN: 9781119396482Purchase book