Review, Compilation, and Preparation Engagements Under SSARS

This chapter separates non-audit service levels that still fall within AUD scope. The main issue is understanding what level of assurance, if any, is provided, what procedures are performed, and what report language is appropriate under SSARS.

In This Chapter

• Understanding the SSARS Framework for Non-Audit Financial Statement Services introduces the governing framework.
• Form, Content, and Limits of a Review Report covers the review engagement and its reporting.
• Using Compilation Reports and Disclaimer Language explains compilation-level service and report language.
• Preparing Financial Statements with No Assurance addresses the lowest-assurance service in the group.

How to Use This Chapter

• Read this chapter when you need to keep audit, review, compilation, and preparation work clearly separated.
• Focus on what level of assurance is provided and what report wording follows from that level.
• Return here whenever an AUD miss involves SSARS distinctions or no-assurance engagements.

In this section

• Understanding the SSARS Framework for Non-Audit Financial Statement Services
  How SSARS governs review, compilation, and preparation services for nonpublic entities.
• Form, Content, and Limits of a Review Report
  How review reports are structured and what limits apply to the assurance provided.
• Using Compilation Reports and Disclaimer Language
  How compilation reports use disclaimer language and differ from higher-assurance engagements.
• Preparing Financial Statements with No Assurance
  How preparation engagements work when no assurance is provided.