Attestation Update – A&A for CPAs

Technical stuff for CPAs providing attestation services

Posts Tagged ‘SSARS 19

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

Going concern issues in SSARS 19 – part two

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Previous post introduced the issue of what to do when something comes to an accountant’s attention during a review or compilation that there is some uncertainty whether the client will be around for a year after the balance sheet date.

What to do if you find yourself in that situation?  Here is a casual translation of the SSARS description:

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Written by Jim Ulvog

March 30, 2011, 7:39 am at 7:39 am

Going concern issues in SSARS 19 – part one

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What should you do if it seems like there is a going concern issue on a review or compilation?

SSARS 19 discusses how to handle the situation when something comes to the accountant’s attention that there is some uncertainty about the organization’s ability to continue as a going concern for a reasonable period of time. 

Wow, how’s that for a sentence that begs for some definition?

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Written by Jim Ulvog

March 28, 2011, 10:35 am at 10:35 am

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Update – SSARS 19 had been replaced by SSARS 21.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

What in the world are presumptively mandatory and unconditional requirements? And why does SSARS 19 talk about should and must?

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What in the world are unconditional requirements and presumptively mandatory requirements?

If you provide audits to your clients, you know those terms.  If you don’t deal with audits in your firm, these are two very weird terms in the SSARSs world, newly introduced by SSARS 19These phrases have been around since SSARS 16, which was effective December 2007.  The impact hadn’t been that large because there was only SSARS 17 and 18.  These two phrases are lots more important since they show up in SSARS 19 quite frequently.

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Written by Jim Ulvog

December 14, 2010, 20:01 pm at 8:01 pm

Posted in Compilations & reviews

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