The American Institute of CPAs has published a new guide to help CPAs interpret and apply Statement on Standards for Accounting and Review Services No. 21.

SSARS No. 21, issued last October, is one of the most significant revisions in non-audit standards in the last 35 years. It creates a bright line between accounting (preparation) services and reporting (compilation or review) services and is a better fit for the current electronic and cloud-based practice environment.

The new guide, available as in eBook and print format, provides interpretative guidance and implementation strategies for all preparation, compilation and review engagements. It aims to help practitioners establish best practices, including practice tools and resources to assist with compliance, and discusses independence and ethics requirements.

In a related development, the AICPA has launched a new staff training curriculum to support practitioners in implementing SSARS No. 21. The 17-hour program will provide training a CPA firm’s staff needs to perform preparation, compilation and review engagements consistently and appropriately. The learning program combines real-world examples, practice exercises, case studies, and a “learning coach.”

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