The standards for preparation, compilation, and review engagements of financial statements are the
A) AICPA's Code of Professional Conduct.
B) Statements on Auditing Standards (SASs).
C) Statements of Standards on Attestation Engagements (SSAEs).
D) Statements on Standards for Accounting and Review Services (SSARS).

Question

Quizplus · Accepted Answer

The standards for preparation, compilation, and review engagements of financial statements are set out in the Statements on Standards for Accounting and Review Services (SSARS) issued by the AICPA. Choice A is incorrect as the AICPA's Code of Professional Conduct is a set of ethical standards and rules that apply to all members of the AICPA. Choice B is incorrect as SASs are generally applicable to audit engagements. Choice C is incorrect as SSAEs relate to attestation engagements such as examinations, reviews and agreed-upon procedures, but not to preparation or compilation engagements.

The Standards for Preparation, Compilation, and Review Engagements of Financial