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Wiley Practitioner's Guide to GAAS 2023, 2nd Edition
book

Wiley Practitioner's Guide to GAAS 2023, 2nd Edition

by Joanne M. Flood
April 2023
Intermediate to advanced content levelIntermediate to advanced
1056 pages
34h 59m
English
Wiley
Content preview from Wiley Practitioner's Guide to GAAS 2023, 2nd Edition

64AR-C 70 Preparation of Financial Statements

SCOPE

AR-C 70 applies when an accountant in public practice is engaged to prepare

  • Financial statements,
  • Prospective financial information, or
  • Other historical financial information,

This section does not apply when an accountant prepares financial statements or prospective financial information

  • and is engaged to perform an audit, review, or compilation of those financial statements,
  • solely for submission to taxing authorities,
  • for inclusion in written personal financial plans prepared by the accountant,
  • in conjunction with litigation services that involve pending or potential legal or regulatory proceedings, or
  • in conjunction with business valuation services.

(AR-C 70.01)

OBJECTIVES AND LIMITATIONS OF PREPARATION ENGAGEMENTS

RELEVANT STANDARDS

It is important to note that the requirements in AR-C 60 apply to all SSARS engagements, including preparation engagements. In addition to the guidance in this chapter, readers should apply the requirements ...

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Publisher Resources

ISBN: 9781394152704Purchase Link