My long term plans have included offering peer review services. I plan to complete the required class and then move toward getting on the list of officially approved providers. Stay tuned for further news updates!
Peer review provider Read More »
Here is a visual picture that illustrates the different comfort levels someone can draw from financial statements that have been audited, reviewed, or compiled by a CPA.
Here is a picture of assurance levels from reports issues by CPAs.
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Visual description of the difference between audits, reviews, and compilationsRead More »
Visual description of the difference between audits, reviews, and compilations Read More »
This is an explanation of the visual picture I drew in the previous post. I will try to explain the differences between audits, reviews, and compilations with a minimal amount of the technical words we CPAs usually bring to an issue. …
What comfort level is there from an audit, review or compilation report?Read More »
What comfort level is there from an audit, review or compilation report? Read More »
Just a reminder that financial statements should not be referring to FASB documents or other accounting literature, such as FIN 48, FAS 157, FAS 13, FSP 117-1 or any of those other things we know by heart. FASB Statement #168 established the Accounting Standards Codification to replace all the accounting literature then in effect. …
Financial statements should not refer to FASB documentsRead More »
Financial statements should not refer to FASB documents Read More »
Remember that SSARS 19 makes a lot of changes to the review and compilation procedures. In terms of the reports, the entire report is changing – the wording is completely different.
Update – SSARS 19 had been replaced by SSARS 21. All the reports have been revised. See:
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Major changes to Review and Compilation Reports from SSARS 19Read More »
Major changes to Review and Compilation Reports from SSARS 19 Read More »