SSARS - General Principles

Question 1

What 3 areas does SSARS Cover

Answer 1

Reviews
Compilations
Preparation of F/S

Question 2

What are the 3 issues preconditions (affect acceptance and continuance)
and what are the 3 related procedures

Answer 2

• ethical requirements
• will all relevant information be available
• managements integrety
• ethical requirements satisfied?
• is financial reporting framework acceptable
• obtain agreement that management acknowledges responsibilties

Question 3

Which Standards address that unaudited FS are the statement

Answer 3

The standards that address unaudited financial statements are the Statements on Standards for Accounting and Review Services.

These standards are issued by the AICPA’s Accounting and Review Services Committee.