Procedures for Engagements

FS Review Nonissuer
Procedures

1. understanding with client (engagement letter)
2. learn entity's business
3. inquiry
4. analytical procedures
5. review other procedures
6. client rep letter
7. professional judgement
8. accountant communicates results

Financial Information Review (interim only) Nonissuer
Procedures

1. understanding with client (engagement letter)
2. learn entity's business & IC
3. inquiry
4. analytical procedures
5. review other procedures
6. client rep letter
7. professional judgement
8. accountant communicates results

FS Review Issuer (interim only)

1. understanding with client (engagement letter)
2. learn entity's business & IC
3. inquiry
4. analytical procedures
5. review other procedures
6. client rep letter
7. professional judgement
8. accountant communicates results

FS Preparation Nonissuer
Procedures

- knowledge of industry
- understand business
- prepare FS

FS Compilation Nonissuer
Procedures

- knowledge of industry
- understand business
- read FS