[Sportiegrl13]

This might be a silly question or even make sense for that matter:

I am going over Roger lecture 8.01 and his chart he has for Comp & Reviews says the 3 paragraph report, add additional one for the various reasons…. I thought for non-issuers the basis/standard report changed and it is no longer just 3 paragraphs but 4+ paragraphs. Or is the clarity project just for non issuer audits?

Thanks!

"Believe in yourself! Have faith in your abilities! Without a humble but reasonable confidence in your own powers you cannot be successful or happy." - Norman Vincent Peale

Starting the CPA journey, again after taking a couple year hiatus!
AUD - 68, retake 7/23/13!
FAR - Early October
REG -
BEC -

[Kenada]

Clarity is just for Non issuers.

For compilations/reviews you can add a paragraph if there is a situation in which you need to emphasis a matter.

For example in Complications – the Statements have omitted disclosures. Or that you are not Independent of the client or Departures from GAAP or other Applicable Frameworks.

For example in Reviews – Emphasis a matter disclosed in the FS, Emphasis related party transactions, Subsequent Events, Accounting matters affecting comparability etc.

In Reviews you would have an except for Modification for Departure of GAAP or other applicable framework.

FAR 05/27/14; 786/110 - Done !

[ColoradoCPA]

Compilations and reviews (for nonpublic) are under SSARS. SSARS has not been changed (not affected by the Clarity project). SSARS rules apply to compilations and reviews of non public entities, not AU-C. AU-C rules apply to audits of non public entities. I hope it helps!

FAR 81 ✓
AUD 97 ✓
BEC 75 ✓
REG 84 ✓

[Sportiegrl13]

Okay, thank you!!! Definitely helps!!!

"Believe in yourself! Have faith in your abilities! Without a humble but reasonable confidence in your own powers you cannot be successful or happy." - Norman Vincent Peale

Starting the CPA journey, again after taking a couple year hiatus!
AUD - 68, retake 7/23/13!
FAR - Early October
REG -
BEC -

[Author]

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