SSARs-compilation engagements Flashcards Preview

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Flashcards in SSARs-compilation engagements Deck (9)
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1

State what is meant by the term "compilation."
2. Understand the accountant's responsibilities when performing a compilation engagement.
3. Know the structure and content of the accountant's report for a compilation engagement.

f

2

A _________ must be issued when engaged to compile and entity f/s

compilation report

3

when not _______that fact must be stated in a paragraph at the end of the report

independent

4

when reporting the compilation, the auditor must

understand reporting framework and policies
read f/s to identify any obvious errors
if records incomplete or inaccurate request additional info

5

compilation report format

title
body
management responsibility
performed compilation in accordance with SSARs
did not audit or review f/s or perform procedures
disclaim opinion or any form of assurance
signature block-signature, city, state, date

6

if use a special purpose framework

add a seperate paragraph to state that fact

refer to the note on the f/s

7

if f/s has known departures

propose adj

modify the report by adding a separate paragraph

8

document noncompliance with a

presumptively mandatory requirement

9

document

copy of engagement letter
copy of f/s compiled
copy of compilation report