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Prescribed Forms Using SSARS 21

Prescribed forms

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Page 1: Prescribed forms

Prescribed FormsUsing SSARS 21

Page 2: Prescribed forms

Types of Prescribed Forms

Personal financial statements!

Building contractor forms!

State agency forms

Page 3: Prescribed forms

Can SSARS 21 be applied to prescribed forms?

Page 4: Prescribed forms

Yes

AR-C 70 Preparation Financial Statements!

AR-C 80 Compilation Engagements

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AR-C 70 Preparation of Financial

Statements

Page 6: Prescribed forms

An engagement letter

is required when you are engaged to prepare financial

statements

Page 7: Prescribed forms

Suggested Format

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

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Put disclaimer on firm letterhead and sign with firm signature

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Use Selected NotesOmission 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

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Alternative Suggested Format

1. Prescribed form!2. Notes (if needed)

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No disclaimer is provided

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Put "No assurance is

provided on these financial statements"

at the bottom of each page

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If substantially all disclosures are omitted, then

disclose the omission on each financial statement page or

in a selected disclosure

Page 14: Prescribed forms

AR-C 80 Compilation Engagements

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An engagement letter

is required when you are engaged to perform a

compilation

Page 16: Prescribed forms

Suggested Format

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

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Show departures in the compilation report

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Show omission of substantially

all disclosures in the compilation report

Page 19: Prescribed forms

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