Statements on Standards for Accounting and Review Services (SSARS) govern the CPA's association with unaudited financial statements of nonpublic (private) companies, but not public companies.

Question

Quizplus · Accepted Answer

SSARS applies only to unaudited financial statements of nonpublic companies, not to public companies. Public companies are subject to the more rigorous reporting requirements of the Securities and Exchange Commission (SEC) and are also subject to audits conducted in accordance with generally accepted auditing standards (GAAS).

Statements on Standards for Accounting and Review Services (SSARS) Govern