Attestation Update – A&A for CPAs

Technical stuff for CPAs providing attestation services

Posts Tagged ‘sample compilation reports

Sample compilation report under SSARS 21

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Update: If you are checking out the requirements for compilation reports, you might benefit from buying a Primer on Compilation and Preparation engagements under SSARS #21. Book is written by my friend, Charles Hall, CPA. For Wednesday 12/2 the price is a mere $0.99.

Here is the new compilation report that will be used when SSARS 21 goes into effect.

I will provide three examples. First, the illustrative standard report. Second, modification of the standard report for a sole practitioner. Third, modification for a non-profit organization.

Copy and paste at your own risk.

Illustrative standard report Read the rest of this entry »

Written by Jim Ulvog

October 28, 2014, 7:10 am at 7:10 am

Proposed revision to compilation rules, including new reports

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In October 2013, the ARSC issued an exposure draft to revise the compilation standards. Two of the major changes are a requirement for the engagement letter to be signed by management and a completely new comp report.

The ED is Proposed Statements on Standards for Accounting and Review Services: Preparation of Financial Statements, Compilation  Engagements, and Association With Financial Statements

One key change is a signed, written engagement will be required for a compilation report.  That is discussed in a previous post,

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Written by Jim Ulvog

January 6, 2014, 5:59 am at 5:59 am

Sample compilation and review reports under SSARS 19 for NPOs

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Written by Jim Ulvog

March 25, 2012, 17:39 pm at 5:39 pm

Reports on comparative financial statements under SSARS 19

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Oops! Looks like I got a little ahead of the professional literature when I drafted samples of comparative review and compilation reports.  SSARS 19 does not explicitly address comparative financials.

What’s the issue?

Update – SSARS 19 had been replaced by SSARS 21. The entire body of knowledge has been revised. See:

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Written by Jim Ulvog

February 2, 2011, 7:53 am at 7:53 am

SSARS 19 – Sample compilation report for omitting the statement of cash flow

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Omission of cash flow statement– Compilation reports will change for organizations with fiscal years ending after December 15, 2010. Here is the modified report I will be using after the first of the year for my non-profit clients if any would choose to omit the statement of cash flow. I doubt that will happen in my client base, but wanted to make this example available to the CPA community.

Update – SSARS 19 had been replaced by SSARS 21. All the reports have been revised. See:

 

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Written by Jim Ulvog

December 28, 2010, 17:00 pm at 5:00 pm

SSARS 19 – Sample compilation report for omitting substantially all disclosures

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Omission of substantially all disclosures — Compilation reports will change for organizations with fiscal years ending after December 15, 2010. I have prepared a modified report for departure from GAAP.  Here is the report I will be using after the first of the year for my non-profit clients if any choose to omit all disclosures.  Please feel free to copy, but make sure you modify this based on your firm’s policies.

Update – SSARS 19 had been replaced by SSARS 21. All the reports have been revised. See:

 

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Written by Jim Ulvog

December 28, 2010, 16:54 pm at 4:54 pm

SSARS 19 report titles and addressing

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cross-post from www.ulvog.wordpress.com.

SSARS 19, which goes into effect the end of 2010, specifies titles and addressing for compilation and review reports. 

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Written by Jim Ulvog

December 11, 2010, 10:11 am at 10:11 am