Flashcards in SSARs-compilation engagements Deck (9)
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.
A _________ must be issued when engaged to compile and entity f/s
when not _______that fact must be stated in a paragraph at the end of the report
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
compilation report format
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
if use a special purpose framework
add a seperate paragraph to state that fact
refer to the note on the f/s
if f/s has known departures
modify the report by adding a separate paragraph
document noncompliance with a
presumptively mandatory requirement