CPAs can use AR-C 70, Preparation of Financial Statements, or AR-C 80, Compilation Engagements, to provide prescribed form assistance to clients. These slides show you various reporting options under SSARS 21.

1. Prescribed Forms
Using SSARS 21

2. Types of Prescribed Forms
Personal financial statements!
Building contractor forms!
State agency forms

3. Can SSARS 21 be applied
to prescribed forms?

4. Yes
AR-C 70 Preparation Financial
Statements!
AR-C 80 Compilation
Engagements

5. AR-C 70
Preparation of Financial
Statements

6. An
engagement letter
is required when you are
engaged to prepare financial
statements

7. Suggested Format
1. Disclaimer!
2. Prescribed Form!
3. Notes (if needed)

8. Put disclaimer on firm letterhead
and sign with firm signature

9. Use Selected Notes
Omission of substantially all
disclosures
Departures from the prescribed form
or related directions!
Departures from the reporting
framework other than those called for by
the prescribed form

10. Alternative
Suggested Format
1. Prescribed form!
2. Notes (if needed)

11. No disclaimer is provided

12. Put
"No assurance is
provided on these
financial statements"
at the bottom
of each page

13. If substantially all disclosures
are omitted, then
disclose the omission on each
financial statement page or
in a selected disclosure

14. AR-C 80
Compilation Engagements

15. An
engagement letter
is required when you are
engaged to perform a
compilation

16. Suggested Format
1. Compilation Report!
2. Prescribed Form!
3. Notes (if needed)

17. Show departures in the
compilation report

18. Show
omission of substantially
all disclosures
in the compilation report

19. New SSARS 21 book
amazon.com