Sample compilation and review reports under SSARS 19 for NPOs

March 25, 2012, 5:34 pm

Update – SSARS 19 had been replaced by SSARS 21. All the reports have been revised. You can check out these posts at my other blog, Attestation Update:

Here is a list of the sample reports under SSARS available on my blogs. The samples are available on this blog as well as my other blog, Attestation Update. (These links go to the other blog.)


Filling up a bucket – word picture for levels of assurance in audit, review, and compilation

September 10, 2011, 9:16 am

     

(cross-post from my other blog, Attestation Update.)

In a webcast on August 31, 2011, Mr. Michael Glynn, CPA, of the AICPA staff, gave a wonderful word picture of the levels of assurance in a review and audit.  Here’s his idea:  Filling up a bucket with procedures produces different levels of assurance.  I would like to expand Mr. Glynn’s description and provide an illustration.

  • In an audit, the accountant obtains provides reasonable assurance that there are no material errors in the financial statements.
  • In a review, the accountant obtains provides limited assurance that there are no material errors in the financial statements.
  • In a compilation,the accountant does not obtain provide any assurance that there are no material errors in the financial statements.

Notice the similarity and difference?  The overlap between these definitions is how much assurance the accountant obtains for himself or herself provides that there are no material errors in the financial statements.

The differences? Read the rest of this entry »


Two more CPE classes on SSARS are available

August 28, 2011, 8:42 pm

Earlier this year I wrote a CPE course on SSARS requirements for CCH . Back in April I mentioned Compilation and Review: Practice Issues (Third Edition) was available. Discussed that course here.  Two more SSARS classes I wrote are now online.  Another will be available soon.  Each of the following classes are two CPE hours.

Compilation and Review: IntroductionCourse description from CCH:

Read the rest of this entry »


Compilation and Review: Practice Issues (Third Edition) CPE course now available online

April 25, 2011, 5:22 pm

I have written a 3-hour online CPE course called Compilation and Review: Practice Issues (Third Edition). It is now available at the CCH Learning Center website.

Here’s what the course covers, from the CCH site:

Read the rest of this entry »


4 posts on how to deal with possible fraud and illegal acts under SSARS 19

April 13, 2011, 8:27 am

I have four posts up at Attestation Update discussing how SSARS 19 says the accountant should deal with possible fraud and illegal acts encountered while performing compilations and reviews.

Click on any of the following links that look like a good place to start:

Read the rest of this entry »


Going concern issues under SSARS 19

March 30, 2011, 9:35 am

I have two posts at Attestation Update explaining how to address going concern issues under SSARS 19.  The guidance found in SSARS 19 is rather brief.  Here are the posts:

I won’t cross-post those comments to this blog.  Please click the links above to read the discussion.

Update – SSARS 19 had been replaced by SSARS 21. All the reports have been revised. You can check out these posts at my other blog, Attestation Update:


Posts on documentation requirements from SSARS #19 combined into a page

February 21, 2011, 7:41 am

I have written a series of eight posts on the documentation rules for reviews and comps from SSARS 19 on my other blog, www.attestationupdate.com.  Those posts have been combined into a single ‘page’.  This means you can read all the posts in chronological order, which also means they are in logical order.  Click here for the page.