A new service provided by CPAs which won’t require an accountant’s report. It is called ‘preparation’ of financial statements.
Big revision to compilation standards.
Revision of the SSARS into clarity format.
I’ve not mentioned these four exposure drafts, since I’m only diving into the details now. You can find the exposure drafts on this page.
The specific links are:
- Proposed Statements on Standards for Accounting and Review Services: Preparation of Financial Statements, Compilation Engagements, and Association With Financial Statements (there are 3 EDs in that 1 document)
- Proposed Statement on Standards for Accounting and Review Services Framework for Performing and Reporting on Compilation and Review Engagements
These will be a big deal. I think you will really like them.