[accountaholicc]

“Preparation of FS: objective of the account in a preparation engagement is to prepare FS in accordance with a specified financial reporting framework.

Compilation of FS: a service, the objective of which is to present in the form of FS information that is the representation of management without undertaking to express any assurance on the FS.”

– Becker definitions

Becker included preparation as a separate engagement in the 2015 book update (in prior years there are no reference to preparation as its own engagement). I know the different requirements under each one, but I can’t wrap my head around how the actual engagements are different.

REG- 66, 77
BEC- 72, 77
AUD- 55, 78
FAR- 8/16

Using Becker self study

[FAR_WARS]

preparation is a new engagement introduced by SSARS 21.

FAR- 80
BEC- 75
AUD- 78
REG- ?

[Author]

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