62AR-C 80 Compilation Engagements
Objectives and Limitations of Preparation Engagements
Acceptance and Continuance of Client Relationships
Compilation Performance Requirements
Documentation in a Compilation Engagement
Reporting on the Financial Statements
Subsequent Discovery of Facts Existing at the Report Date
Change in Engagement from Audit or Review to Compilation
SCOPE
AR-C 80 applies when an accountant has been engaged to compile financial statements. Section 80 may also apply to prospective financial information, pro forma information, or other historical or prospective financial information. (AU-C 80.01) When engaged to compile pro forma financial information, the accountant must also comply with the requirements in AU-C 120. When performing a compilation engagement, the accountant does not provide any assurance as to the accuracy or completeness of management’s information or gather evidence to express an opinion or a conclusion on the financial statements. (AR-C 80.02)
OBJECTIVES AND LIMITATIONS OF PREPARATION ENGAGEMENTS
It is important to note that the requirements in AR-C 60 apply to all SSARS engagements, including compilation engagements. Readers should apply the requirements in the chapter on Section 60 to compilation engagements in addition to the guidance in this chapter. (AR-C ...
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