ARSC seeks comment on SSARS proposals

BY KEN TYSIAC

The AICPA Accounting and Review Services Committee (ARSC) has exposed for public comment proposed Statements on Standards for Accounting and Review Services (SSARS) as part of its clarity project.

ARSC has separated the proposals in an attempt to make the clarified standards easier to use, understand, and implement. The proposed SSARS Review of Financial Statements addresses areas that are applicable to a basic review engagement. The proposed SSARS Review of Financial Statements—Special Considerations addresses areas that are encountered less frequently.

The proposed SSARSs would supersede paragraphs 1.07 to 1.08 and 3.01 to 3.73 of SSARS No. 19, Compilation and Review Engagements (see AICPA, Professional Standards, AR Sec. 60 and AR Sec. 90).

Comments on the ED are due April 26.

Ken Tysiac ( ktysiac@aicpa.org ) is a JofA senior editor.

CAREER TIPS

CPAs share lessons from dads

To celebrate Father’s Day, the JofA asked accountants across the country to share some lessons they learned from their fathers—especially ones that helped them later on in the accounting profession. Here are their stories.

SPONSORED REPORT

How to audit high risk areas

Revenue recognition, internal control over financial reporting, accounting estimates and going concern are areas of audit that have emerged as particularly challenging and complex.

PRACTICE MANAGEMENT

Q&A: How to determine a client’s price sensitivity

To price effectively, CPA firms first need to determine the price sensitivity of individual clients. Author and consultant Ron Baker, an unabashed value-pricing champion, explains how to do it in this Q&A.