Accounting
AICPA Issues New Guide to Help CPAs Interpret and Apply SSARS No. 21
The new guide, available as an eBook and in print format, was written to assist CPAs in interpreting and applying SSARS No. 21, as well as to provide interpretative guidance and implementation strategies for all preparation, compilation and ...
Jun. 26, 2015
The American Institute of CPAs (AICPA) has a new guide to aid CPAs in the interpretation and application of Statement on Standards for Accounting and Review Services No. 21 (SSARS No. 21).
SSARS No. 21, issued last October, is one of the most significant revisions in non-audit standards in the last 35 years. It creates a bright line between accounting (preparation) services and reporting (compilation or review) services and is a better fit for the current electronic and cloud-based practice environment.
The new guide, available as an eBook and in print format, was written to assist CPAs in interpreting and applying SSARS No. 21, as well as to provide interpretative guidance and implementation strategies for all preparation, compilation and review engagements. It will help practitioners establish best practices, including practice tools and resources to assist with compliance, and discusses independence and ethics requirements.
In a related development, the AICPA has launched a new staff training curriculum to support practitioners in implementing SSARS No. 21. The innovative 17-hour program will provide the comprehensive training a CPA firm’s staff needs to perform their preparation, compilation and review engagements consistently and appropriately. The enhanced learning program combines real-world examples, practice exercises, case studies, and a “learning coach” to create a flexible, interactive learning experience.