3 Reasons Why SSARS 21 was Created

By Charles Hall | Accounting and Auditing

Aug 20

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About the Author

Charles Hall is a practicing CPA and Certified Fraud Examiner. For the last thirty years, he has primarily audited governments, nonprofits, and small businesses.He is the author of The Little Book of Local Government Fraud Prevention and Preparation of Financial Statements & Compilation Engagements. He frequently speaks at continuing education events.Charles is the quality control partner for McNair, McLemore, Middlebrooks & Co. where he provides daily audit and accounting assistance to over 65 CPAs. In addition, he consults with other CPA firms, assisting them with auditing and accounting issues.

  • Maria says:

    Can we issue a compiled financial statements (disclosures omitted) by just printing from Quickbooks balance sheet and Income Statement and a compilation report?

  • Maria, you can issue a compilation report but you will need to follow the guidance in AR-C 80 which requires the reading of the financial statements for appropriateness in light of the reporting framework and accounting policies. You can also issue financial statements without a compilation report if you follow the guidance in AR-C 70, preparation of financial statements.

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