Statements on Standards for Accounting and Review Services establish standards and procedures for which of the following engagements?

Question

Quizplus · Accepted Answer

Choice "D" is correct. Statements on Standards for Accounting and Review Services (SSARS) establish standards and procedures for an engagement to compile an individual's personal financial statements to be used to obtain a mortgage. Choice "A" is incorrect. Proposing adjustments to the books of account for a partnership is an engagement that does not pertain to SSARS, as it falls short of submitting financial statements. Choice "B" is incorrect. Reviewing interim financial data required to be filed with the SEC is covered under PCAOB standards. SSARS only applies to nonissuers. Choice "C" is incorrect. Preparing standard monthly journal entries is not covered by SSARS, as it falls short of submitting financial statements.

Statements on Standards for Accounting and Review Services Establish Standards