[Determined CPA]

The Wiley question is:

Statements on Standards for Accounting and Review Services (SSARS) apply when an accountant has:

a. generated, through the use of computer software, financial statements prepared in accordance with a comprehensive basis of accounting other than GAAP.

b. Provided a client with a financial statement format that does not include dollar amounts, to by used by the client in preparing financial statements

c. submits unaudited financial statements of a public (issue) company to management of that company

d. Typed client-prepared financial statements, without modification, as an accommodation to that client

I thought the answer would be (c) – my thinking was: SSARS applies to a compilations or reviews – a review can be public. I knew it wasn’t b or d….why is it a? I thought this type of report was OCBOA?

Please help!

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[Anonymous]

A is a compilation and falls under SSARS. B is a spreadsheet or template. C is an internal use document. D is a secretarial duty. Remember a compilation is when you take a client's check stubs or bank statements and create financial statements for internal or external use. But the letter has to specifically state that they are not audited.

I hope this helps.

[Anonymous]

A is a compilation and falls under SSARS. B is a spreadsheet or template. C is an internal use document. D is a secretarial duty. Remember a compilation is when you take a client's check stubs or bank statements and create financial statements for internal or external use. But the letter has to specifically state that they are not audited.

I hope this helps.

[zombiecpa]

c is incorrect, because SSARS only apply to nonpublic companies.

FAR 85
AUD 83
BEC 76
REG 90

[zombiecpa]

c is incorrect, because SSARS only apply to nonpublic companies.

FAR 85
AUD 83
BEC 76
REG 90

[Anonymous]

Thank you zombiecpa! I missed the public issue part!

[Anonymous]

Thank you zombiecpa! I missed the public issue part!

[MrsBing]

Also SSARS doesn't apply to public companies.

Becker, Wiley Test Bank, and Ninja 10 Point Combo!

FAR: 89
REG: 87
AUD: 92
BEC: 75
Ethics: 90

Licensed Arizona CPA

[MrsBing]

Also SSARS doesn't apply to public companies.

Becker, Wiley Test Bank, and Ninja 10 Point Combo!

FAR: 89
REG: 87
AUD: 92
BEC: 75
Ethics: 90

Licensed Arizona CPA

[MrsBing]

zombie beat me to it 🙂

Becker, Wiley Test Bank, and Ninja 10 Point Combo!

FAR: 89
REG: 87
AUD: 92
BEC: 75
Ethics: 90

Licensed Arizona CPA

[MrsBing]

zombie beat me to it 🙂

Becker, Wiley Test Bank, and Ninja 10 Point Combo!

FAR: 89
REG: 87
AUD: 92
BEC: 75
Ethics: 90

Licensed Arizona CPA

[Determined CPA]

Ahh..all this time I thought Compilations were nonpublic but reviews could be public or nonpublic…thank you all for you the help. I just re-read the Becker section on this and see that you guys are all correct.

Thank you so much for getting back to me tonight, I wouldn't have been able to sleep! Sad, right? lol

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[Determined CPA]

Ahh..all this time I thought Compilations were nonpublic but reviews could be public or nonpublic…thank you all for you the help. I just re-read the Becker section on this and see that you guys are all correct.

Thank you so much for getting back to me tonight, I wouldn't have been able to sleep! Sad, right? lol

A - 75
B - 78 God is good.
F - 77 Answered prayers.
R - 84! Done!!

Paperwork sent - waiting for license!!
Still on a cloud and in shock. Through God, all things will happen.

[Stephenie46]

hi MrsBing!

Thanks for sharing.

Journaling: A Year-Round of Discipline, Improvement, Self-Discovery, and Success

[Stephenie46]

hi MrsBing!

Thanks for sharing.

Journaling: A Year-Round of Discipline, Improvement, Self-Discovery, and Success

[Author]

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