SSARS - General Principles Flashcards
1
Q
What 3 areas does SSARS Cover
A
Reviews
Compilations
Preparation of F/S
2
Q
What are the 3 issues preconditions (affect acceptance and continuance)
and what are the 3 related procedures
A
- ethical requirements
- will all relevant information be available
- managements integrety
- ethical requirements satisfied?
- is financial reporting framework acceptable
- obtain agreement that management acknowledges responsibilties
3
Q
Which Standards address that unaudited FS are the statement
A
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.