Compilation Engagements - AASB

Date recorded:

At its meeting on January 18-19, 2016, the AASB, discussed issues related to its project to revise Section 9200, Compilation Engagements, including:

  1. whether the revised standard should acknowledge the use of financial statements compiled under Section 9200 and the accompanying report by users other than management; and
  2. whether the revised standard should require a disclosure of the basis of accounting followed by management.

The AASB also supported expanding the composition of the Compilation Engagements Task Force to include an observer from the lending community.

Review the executive summary on the AASB's Web site.

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