[watermelon]

I have 2 questions regarding SSARS and SSAE and the services provided to issuer/non-issuer.
1. Is that right that compilation services are off limits for public companies and they only can use review services for interim reporting? What about preparation service for public companies? Is it not allowed?
2. Also does SSAE only apply to issuers and SSARS only apply to non-issuers? At the beginning of Becker’s text book, i remember the lecture mentioned this, but I might just get confused. Hope someone can help me!

[Sam]

1 When a public company issues a 10-Q yes that has to be review which is done by asking questions and analytical procedures. You can do compilations for public companies but keep in mind that for the quarterly reports you have to a review. Also, even though they are very similar as a technicality public reviews are overseen by the PCAOB not the AICPA and hence the SSARS.

2 SSAE and SSARS are under the authority of the AICPA so therefore applies to private companies. SSARS govern reviews, compilations and preparation engagements. SSAE governs other attestation services such as examinations and agreed upon procedures.

Hope this helps somewhat.

[Author]

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