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