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“Preparation of FS: objective of the account in a preparation engagement is to prepare FS in accordance with a specified financial reporting framework.
Compilation of FS: a service, the objective of which is to present in the form of FS information that is the representation of management without undertaking to express any assurance on the FS.”
– Becker definitions
Becker included preparation as a separate engagement in the 2015 book update (in prior years there are no reference to preparation as its own engagement). I know the different requirements under each one, but I can’t wrap my head around how the actual engagements are different.
AUD - 78
BEC - 77
FAR - 64
REG - 77REG - 77
BEC - 77
AUD - 78
FAR - 64; retake 1/6REG- 66, 77
BEC- 72, 77
AUD- 55, 78
FAR- 8/16Using Becker self study
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