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Business Finance EBK AUDITING & ASSURANCE SERVICES: A SY

Statements on standards for accounting and review services are issue by accounting and review services committee, to issue the unaudited financial statement of any company that is not allowed to file any financial statement with the government regulatory agency regarding sale of securities in public market. To describe: The type of services that can be performed under statement on standards for accounting and review services Different types of services that can be performed under statement on standards for accounting are as follows: The Compilation services: compilation services are a service in which a company allowed an outside accountant to prepare the financial statement. In a compilation engagement, the company assures that they do not follow the standards of accounting principles to prepare the financial statement. The level of assurance in compilation engagement is lowest. The Review services: review service is a service that performs with a limited level of assurance that the presented financial statement does not contain any type of material modification, but the auditor verified whether contained information in the financial statement is correct. Other services: Staffing of CPA firms Regulation of the public companies General standards are include the phases of all audit Fieldwork standards include the performances of the audit procedure . Reporting standards include the quality of the audit report. Quality control standards include the policies of AICPA standards and peer review.

Statements on standards for accounting and review services are issue by accounting and review services committee, to issue the unaudited financial statement of any company that is not allowed to file any financial statement with the government regulatory agency regarding sale of securities in public market. To describe: The type of services that can be performed under statement on standards for accounting and review services Different types of services that can be performed under statement on standards for accounting are as follows: The Compilation services: compilation services are a service in which a company allowed an outside accountant to prepare the financial statement. In a compilation engagement, the company assures that they do not follow the standards of accounting principles to prepare the financial statement. The level of assurance in compilation engagement is lowest. The Review services: review service is a service that performs with a limited level of assurance that the presented financial statement does not contain any type of material modification, but the auditor verified whether contained information in the financial statement is correct. Other services: Staffing of CPA firms Regulation of the public companies General standards are include the phases of all audit Fieldwork standards include the performances of the audit procedure . Reporting standards include the quality of the audit report. Quality control standards include the policies of AICPA standards and peer review.

Solution Summary: The author explains the types of services that can be performed under statement on standards for accounting and review services.

EBK AUDITING & ASSURANCE SERVICES: A SY

EBK AUDITING & ASSURANCE SERVICES: A SY

10th Edition

ISBN: 9781259293245

Author: Jr

Publisher: MCGRAW HILL BOOK COMPANY

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