Which set of standards was created by the AICPA to cover services relating to unaudited financial statements?
A)Standards on Selective Audits and Review Services (SSARS).
B)Statement on Auditing Standards (SAS).
C)Statements on Compilation and Review Standards (SCRS).
D)Statements on Standards for Accounting and Review Services (SSARS).

Question

Quizplus · Accepted Answer

The Statements on Standards for Accounting and Review Services (SSARS) was created by the AICPA to cover services relating to unaudited financial statements. Choice A is incorrect as there are no Standards on Selective Audits and Review Services. Choice B refers to standards on auditing which are different from review services. Choice C combines two different sets of standards (Compilations and Reviews) and does not exist as a standalone set of standards.

Which Set of Standards Was Created by the AICPA to Cover