Guide: Preparation, Compilation, and Review Engagements, 2017
American Institute of Certified Public Accountants (Verlag)
978-1-945498-38-1 (ISBN)
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Founded in 1887, the American Institute of Certified Public Accountants (AICPA) represents the CPA and accounting profession nationally and globally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the accounting profession's technical and ethical standards. The AICPA's founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.
1 Review of Financial Statements 01-239
Introduction 01-02
Applicability 03
Consideration of Materiality in a Review Engagement 04-10
Requirements 11-234
General Principles for Performing and Reporting on Review Engagements 11
Professional Skepticism in a Review Engagement 12-16
Engagement Level Quality Control in a Review Engagement 17-21
Independence 22-24
Preconditions for Accepting a Review Engagement 25-30
Communications With Predecessor Accountants 31-34
Agreement on Engagement Terms 35-38
Understanding of the Industry 39
Knowledge of the Entity 40-68
Designing and Performing Review Procedures 69-72
Analytical Procedures 73-113
Illustrative Analytics 114-119
Inquiries and Other Review Procedures 120-143
Illustrative Inquiries 144-145
Reading the Financial Statements 146-148
Reconciling the Financial Statements to the Underlying Accounting Records 149
Evaluating Evidence Obtained From the Procedures Performed 150-153
Written Representations 154-160
Communicating to Management and Others Regarding Fraud or Noncompliance With Laws and Regulations 161-168
Reporting on the Financial Statements General 169-170
Reporting on Financial Statements Prepared in Accordance With a Special Purpose Framework 171-175
Reporting on Comparative Financial Statements 176-182
Reporting on Known Departures From the Applicable Financial Reporting Framework 183-188
Emphasis-of-Matter and Other-Matter Paragraphs in the Accountant s Review Report 189-193
Alert That Restricts the Use of the Accountant s Review Report 194-197
Reporting on Financial Statements Prepared in Accordance With a Financial Reporting Framework
Generally Accepted in Another Country 198-201
The Accountant s Consideration of an Entity s Ability to Continue as a Going Concern 202-207
Subsequent Events and Subsequently Discovered Facts 208-214
Initial Review Engagements Opening Balances 215-217
Reference to the Work of Other Accountants in an Accountant s Review Report 218-220
Supplementary Information That Accompanies Reviewed Financial Statements 221-223
Required Supplementary Information 224-226
Change in Engagement From Audit to Review 227-231
Review Documentation 232-234
Illustrative Engagement Letters 235
Illustrative Representation Letter 236-238
Illustrative Accountant s Review Reports on Financial Statements 239
2 Compilation of Financial Statements 01-102
Introduction 01-02
Applicability 03
Requirements 04-86
General Principles for Performing and Reporting on Compilations of Financial Statements 04
Engagement Level Quality Control in a Compilation Engagement 05-09
Independence 10-11
Preconditions for Accepting a Compilation Engagement 12-17
Agreement on Engagement Terms 18-21
Knowledge and Understanding of the Entity s Financial Reporting Framework 22-26
Reading the Financial Statements 27
Other Compilation Procedures 28-35
Reporting General 36-37
Reporting Financial Statements Prepared in Accordance With a Special Purpose Framework 38-41
Reporting Financial Statements that Omit Substantially All the Disclosures Required by the Applicable Financial Reporting Framework 42-49
Reporting Comparative Financial Statements 50-62
Reporting When the Accountant Is Not Independent 63-65
Reporting Known Departures From the Applicable Financial Reporting Framework 66-71
Reporting Supplementary Information That Accompanies Financial Statements and the Accountant s Compilation Report Thereon 72-74
Reporting Required Supplementary Information 75-77
Reporting Alert That Restricts the Use of the Accountant s Compilation Report 78-79
Reporting Emphasis-of-Matter or Other-Matter Paragraphs 80
Reporting Financial Statements Prepared in Accordance With a Prescribed Format 81-86
Compilation of Specified Elements, Accounts, or Items of a Financial Statement 87-90
Change in Engagement From Audit or Review to a Compilation Engagement 91-96
Documentation Requirements 97-99
Illustrative Engagement Letters 100
Illustrative Examples of the Accountant s Compilation Report on Financial Statements 101
Exhibit Compilation Reporting Requirements When Independence Is Impaired 102
3 Preparation of Financial Statements 01-50
Introduction 01
Applicability 02-07
Independence 08-09
Requirements 10-49
General Principles for Performing Engagements to Prepare Financial Statements 10
Engagement Level Quality Control in an Engagement to Prepare Financial Statements 11-15
Preconditions for Accepting an Engagement to Prepare Financial Statements 16-18
Agreement on Engagement Terms 19-22
Knowledge and Understanding of the Entity s Financial Reporting Framework 23-27
Preparing the Financial Statements 28-34
Preparation of Financial Statements in Accordance With a Special Purpose Framework 35-36
Preparation of Financial Statements That Contain a Known Departure or Departures From the Applicable Financial Reporting Framework 37-38
Preparation of Financial Statements That Omit Substantially All Disclosures Required by the Applicable Financial Reporting Framework 39-41
Preparation of Financial Statements Included in a Prescribed Form 42-44
Communication With Management 45-46
Documentation Requirements 47-49
Illustrative Engagement Letters 50
4 Compilation of Pro Forma Financial Information 01-24
Introduction 01
Applicability 02-03
Requirements 04-22
General Principles for Compilations of Pro Forma Financial Information 04-06
Acceptance and Continuance of Client Relationships 07-09
Agreement on Engagement Terms 10-13
The Accountant s Knowledge and Understanding of the Entity s Financial Reporting Framework 14
Compilation Procedures 15-16
The Accountant s Compilation Report on Pro Forma Financial Information 17-20
Documentation 21-22
Illustrative Engagement Letter for a Compilation of Pro Forma Financial Information 23
Illustrative Accountant s Compilation Report on Pro Forma Financial Information 24
5 Preparing or Performing a Compilation or Review of Personal Financial Statements 01-26
Introduction 01
Accounting Considerations 02-05
Internal Control With Respect to Personal Financial Statements 06-08
Agreement on Engagement Terms 09-11
Fraud and Illegal Acts in an Engagement to Prepare or in a Compilation or Review of Personal Financial Statements 12-14
Representation Letters 15-17
Compilation and Review Reports on Personal Financial Statements 18-20
Departures From the Applicable Financial Reporting Framework 21-22
Illustrative Engagement Letters 23
Illustrative Representation Letter 24-25
Illustrations of Accountant s Compilation and Review Reports on Personal Financial Statements 26
Appendix
A Overview of Statements on Quality Control Standards Glossary
Index of Pronouncements and Other Technical Guidance
Subject Index
| Erscheinungsdatum | 08.01.2018 |
|---|---|
| Reihe/Serie | AICPA |
| Verlagsort | NC |
| Sprache | englisch |
| Maße | 153 x 226 mm |
| Gewicht | 354 g |
| Themenwelt | Wirtschaft ► Betriebswirtschaft / Management ► Rechnungswesen / Bilanzen |
| ISBN-10 | 1-945498-38-2 / 1945498382 |
| ISBN-13 | 978-1-945498-38-1 / 9781945498381 |
| Zustand | Neuware |
| Informationen gemäß Produktsicherheitsverordnung (GPSR) | |
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