[I'm, Ron Burgundy?]

I’m reading through the Wiley Book, Module 6 page 468 to be exact, and the definition between an Assurance and an Attest engagement is outlined as well as their relation to Compilations and Reviews. The outline states that “Although a compilation is not an assurance engagement, it is an attest engagement.” The outline also states that an “Attest Engagement” REQUIRES Independence.

Okay, does this sound incorrect? It was my understanding that Independence is not required in a Compilation. However, they are calling it an “Attest engagement” when a Compilation sounds more like an “Assurance engagement”. Am I losing my mind or is Wiley just making a misprint?

"If you're going through hell, keep going"
- Winston Churchill

"I've missed over 9,000 shots in my career. I've lost over 300 games. 26 times I've been trusted to take the game winning shot, and missed. I've failed, over and over and over again in my life. And that is why, I succeed."
- Michael Jordan

BEC: (54), (72), 80 (losing credit on 02/02/15 - nervous)
AUD: 78
REG: (74), 91
FAR: (71)

[Quinacridone]

Compilations fall under SSARS, even though they are considered an attest engagement. I think of it this way: if its a full set of financial statements NOT audited for a NON issuer, then its SSARS. It can't fall under the SSAEs because a compilation is not a review, exam or agreed upon procedure. See below:

**Statements on Standards for Attestation Engagements apply to engagements in which a practitioner is engaged to issue or does issue an examination, a review, or an agreed-upon procedures report on subject matter, or on an assertion about the subject matter, which is the responsibility of another party. An engagement to examine management's assertion that the entity's schedule of investment returns is presented in accordance with specific criteria would fall within this scope.

**Statements on Standards for Accounting and Review Services apply to engagements involving the unaudited financial statements of a nonissuer. For example, preparation of interim financial statements (which are typically unaudited).

REG - Nov 4, 2013: 88
FAR - Feb 27, 2014: 86
AUD - April 5, 2014: 91
BEC - May 6, 2014: 83

Florida CPA 24 July 2014
(Done in seven months - thank you Jesus!!)

[Quinacridone]

Compilations fall under SSARS, even though they are considered an attest engagement. I think of it this way: if its a full set of financial statements NOT audited for a NON issuer, then its SSARS. It can't fall under the SSAEs because a compilation is not a review, exam or agreed upon procedure. See below:

**Statements on Standards for Attestation Engagements apply to engagements in which a practitioner is engaged to issue or does issue an examination, a review, or an agreed-upon procedures report on subject matter, or on an assertion about the subject matter, which is the responsibility of another party. An engagement to examine management's assertion that the entity's schedule of investment returns is presented in accordance with specific criteria would fall within this scope.

**Statements on Standards for Accounting and Review Services apply to engagements involving the unaudited financial statements of a nonissuer. For example, preparation of interim financial statements (which are typically unaudited).

REG - Nov 4, 2013: 88
FAR - Feb 27, 2014: 86
AUD - April 5, 2014: 91
BEC - May 6, 2014: 83

Florida CPA 24 July 2014
(Done in seven months - thank you Jesus!!)

[seattleacct]

Also, compilation reports explicitly state that they do not express assurance. So that means a compilation couldn't be an assurance engagement.

B:76
A:64, 73, 91!
R:77
F:76

CPAexcel, Wiley Test Bank, Ninja Audio & Notes

[seattleacct]

Also, compilation reports explicitly state that they do not express assurance. So that means a compilation couldn't be an assurance engagement.

B:76
A:64, 73, 91!
R:77
F:76

CPAexcel, Wiley Test Bank, Ninja Audio & Notes

[Author]

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