[Anonymous]

I know I’m spending far too much time on this (i.e., the distinction between SSAT and SSARS), but anyway ended up at the AICPA’s center for plain spoken accounting and it says there:

Question No. 2. How does an engagement to prepare financial statements that the accountant will not subject to an audit, review, or compilation differ from an engagement to prepare financial statements that the accountant will subject to an audit, review, or compilation? This is an FAQ on the SSARS 21

Answer No. 2. If the accountant is not engaged to perform an audit, review, or compilation of the financial statements that he or she is engaged to prepare, the accountant is required to perform the preparation service in accordance with section 70 of SSARS No. 21. That involves including a statement on each page of the financial statements indicating, at a minimum, that “no assurance” is provided on the financial statements.

===>If the accountant is engaged to prepare financial statements and also engaged to perform an audit, review, or compilation of those financial statements, section 70 of SSARS No. 21 does not apply. The accountant would perform the audit, review, or compilation in addition to the nonattest service of preparing the financial statements.

I don’t get it, I thought you weren’t supposed to audit something you prepared???