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Communications Betwee n Predecessor and Successor Accountants 1. This statement provides guidance to a successor accountant who decides to communicate with a predecessor accountant regarding acceptance of an engagement to compile or review the financial statements of a nonpublic entity.1 It requires the predecessor ac-countant to respond promptly and fully in the event of such communi-cations (paragraphs 3 through 6) in ordinary circumstances. This statement also provides guidance on additional inquiries a successor accountant may wish to make of a predecessor, and the predeces-sor's responses (paragraphs 7 through 8), to facilitate the conduct of the successor's compilation or review engagement. 2. The following definitions apply for purposes of this statement: Successor accountant. An accountant who has been invited to make a proposal for an engagement to compile or review financial state-ments or who has accepted such an engagement. Predecessor accountant. An accountant who has resigned or who has been notified that his services have been terminated and who, at a minimum, was engaged to compile the financial statements of the entity for the prior year or for a period ended within twelve months of the date of the financial statements to be compiled or reviewed by the successor. 1. This statement amends SSARS 2 by deletion of footnote 8 in paragraph 16 of that statement. Copyright © 1981 by the American Institute of Certified Public Accountants, Inc. 1211 Avenue of the Americas, New York, N.Y. 10036 1234567 890ARS 8987654321 Statement on Standards for Accounting and Review Services Issued by the Accounting and Review Services Committee AICPA American Institute of Certified Public Accountants December 1981
Object Description
Title |
Communications between predecessor and successor accountants |
Series Title | Statement on standards for accounting and review services 4 |
Author | American Institute of Certified Public Accountants. Accounting and Review Services Committee |
Subject |
Communication in accounting -- Standards -- United States |
Date-Issued | 1981 |
Source | Originally published by: American Institute of Certified Public Accountants |
Rights | Copyright and permission to reprint held by: American Institute of Certified Public Accountants |
Type | Text |
Format | PDF text file scanned at 400 dpi with corrected OCR |
Digital Publisher | University of Mississippi Library. Accounting Collection |
Date-Digitally Created | 2011 |
Language | eng |
Identifier | ssars 4 |