Please help: Compilation of Prospective FS

  • Creator
    Topic
  • #1674134
    Bianca
    Participant

    Can someone please verify the correct standards to apply in a compilation engagement?

    To my understanding when performing a Compilation of Prospective financial statements SSARS are to be used, but because a report is required it is still considered an attest engagement. Is this correct? If not someone please correct me!

    Thank you in advance!

     

    AUD- 75

    BEC-75

    FAR-59, 71,85

    REG-83

     

    Good Luck to all!

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  • #1674140
    Paydirt123
    Participant

    Compilations fall under Statements Standards Accounting & Review Services (SSARS); with the recent issuance of new standard, compilations are no longer considered Attest engagements, but are governed as Accounting & Review Services.

    AUD - 84
    BEC - 80
    FAR - 80
    REG - 85
    Took the long way, but I got there
    #1674239
    Operation_CPA
    Participant

    If we are sitting in Q4 – which one is it? Not trying to lose points because of something stupid.

    FAR - 76 (Lost credit), 76
    AUD - 80
    BEC - 76
    REG - 75

    Truly I tell you, if you have faith as small as a mustard seed, you can say to this mountain, "Move from here to there," and it will move. Nothing will be impossible for you.

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