The American Institute of CPAs’ Accounting and Review Services Committee has issued a Proposed Statement on Standards for Accounting and Review Services, Framework for Performing and Reporting on Compilation and Review Engagements, as a result of its Clarity Project.
The committee has decided that it would be in the public interest to have all the professional literature for engagements performed in accordance with Statements on Auditing Standards and Statements on Standards for Accounting and Review Services, or SSARS, drafted using the same conventions. It has therefore mostly used the clarity drafting conventions also used by the Auditing Standards Board in its Clarity Project. The resulting clarified SSARSs are thus intended to be easier to read, understand and apply.
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