Wiley Practitioner's Guide to GAAS 2015: Covering all SASs, SSAEs, SSARSs, PCAOB Auditing Standards, and Interpretations

AR 200 Reporting on Comparative Financial Statements

ORIGINAL PRONOUNCEMENTS

Original Pronouncements

Statements on Standards for Accounting and Review Services (SSARSs) 2, 3, 4, 5, 7, 11, 12, 15, and 17.

APPLICABILITY

When comparative financial statements of a nonpublic entity are presented and the current period has been compiled and reported on or reviewed in accordance with AR Sections 80 or 90, respectively.

NOTE: When current period financial statements of a nonissuer are audited and the prior period compiled or reviewed, the guidance in SASs applies.

This section only applies to traditional compilations, not management-use-only compilations. The guidance in this section addresses reporting requirements, and a report ordinarily is not issued in a management-use-only compilation engagement.

DEFINITIONS OF TERMS

Comparative financial statements. Financial statements of two or more periods presented in columnar form.

Continuing accountant. An accountant who has been engaged to audit, review, or compile and report on the financial statements of the current period and one or more consecutive periods immediately prior to the current period.

Reissued report. A report issued subsequent to the date of the original report that bears the same date as the original report. A reissued report may need to be revised for the effects of specific events; in these circumstances, the report should be dual-dated with the original date and a separate date that applies to the ...