[Anonymous]

Is a compilation an attestation engagement? Becker contradicts itself with it on A2-17 and with feedback on many MCQs.

[Anonymous]

A compilation can be an attestattion engagement if you are compiling prospective financial statements. A compilation is not considered an attestation engagement when compiling historical statements for non issuers under SSARS. The definition for attest engagements is auditing/examining something other than historical financial statements. This is according to my notes from Becker. I'm only on Chapter three and using Ninja method so haven't done any mcqs yet.

[lbi18]

A compilation falls under attestation standards (SSAE) when compiling prospective financial statements for a client. A compilation of historical financial statements falls under the guidance of SSARS.

Both of these engagements provide no assurance whatsoever.

FAR - 85
AUD - 99
REG - 85
BEC - 10/4/13 (Waiting)

Using Becker Self-Study

[Almost Done]

AR 60 (SSARS) states that a compilation report IS an attest service; Per Page 463 module 6 A.2. in Wiley.

The confusing part is that the Code of Professional Conduct defines attestation as requiring independence, but the Attestation Standards definition does not include compilations as an attestation service.

Agreed though, NO ASSURANCE.

Very confusing topic

BEC: Passed
REG: Passed
FAR: Passed
AUD: Passed

[Anonymous]

Thanks!

[Author]

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