SSARS-general principles Flashcards
1
Q
statement on standards for accounting and review services (SSARS) are issued by the
A
AICPA’s ARSC
2
Q
SSARS applicable to (nonissuers)
A
preparation of F/S
Compilation
Review
3
Q
Organization of SSARS
A
objectives
definition
professional req
application and other explanatory material
4
Q
two types of professional requirements are
A
unconditional requirements (Must do them) presumptively mandatory (should, not must, some exceptions)
5
Q
“application and other explanatory materials” are not mandatory and are indicated by
A
may, might, could
6
Q
circumstances that may prevent acceptance
A
ethical requirements will not be met
neccessary info is unavailable or unreliable
reason to doubt managements integrity
7
Q
prior to accepting engagment
A
determine competance
determine acceptability of the financial reporting framework
obtain required agreement with management
