编者按:近日,国际会计师联合会(IFAC)针对财务报表编制业务准则及该业务对中小企业及中小事务所的价值发表文章,通过介绍国际相关服务准则第4410号(ISRS 4410)及该准则2012年3月的修订重点,为中小事务所的会计师提供支持。该文章重点介绍了修订后准则的多样性及主要特征。现将该文章全文转发,供参考。 {!&^VXZIT
ISRS 4410: The Standard for Today’s Compilation Engagements POI|#[-V
Highlighting the Value to SMPs and SMEs U1;&G
As more and more smaller entities become exempt from audit requirements, small- and medium-sized practices (SMPs) will need to focus more on providing other services if their businesses are to survive and prosper. In addition, demand for non-audit services, in particular accounting and compilation services, is growing, as evidenced by the results of recent IFAC SMP Quick Polls. hw({>cH\
Helping to meet the demands of this growing market is the release in March 2012 by the International Auditing and Assurance Standards Board (IAASB) of International Standard on Related Services (ISRS) 4410 (Revised), Compilation Engagements,[1] effective for compilation reports dated on or after July 1, 2013. The IFAC SMP Committee monitored the development of the standard and submitted comment letters at all key stages, from project proposal through to the release of the final standard. The standard, set out in an easy-to-read format, with objectives, requirements, and application and other explanatory material, can be used by professional accountants in public practice for a wide range of engagements for which assurance on the reported information is not required. v\2-%
Small- and medium-sized entities (SMEs) often turn to professional accountants in public practice to provide financial reporting expertise. Assistance with preparation of annual historical financial statements is one common example. But ISRS 4410 (Revised) also provides the necessary flexibility for the practitioner to tailor the nature of the engagement to meet other needs, for example, the preparation of financial information for use by external parties, such as bank lenders, grant funders, in connection with a change of ownership, or simply for internal use by management. QV[#^1
A compilation engagement is not an assurance engagement. While the practitioner applies accounting and financial reporting expertise to assist management with the preparation and presentation of financial information, the practitioner is not required to verify the completeness or accuracy of the information provided by management. However, users will often value the involvement of a professional accountant in compiling the financial information. 0[ZB ^
Let us look in more detail at some of the key features of the standard: #h}a
Scope of the Standard 4TRF -f
The standard deals with the practitioner’s responsibilities for conducting and reporting on the compilation engagement. The issuance of a report, in the format prescribed by the standard, is the primary means through which the practitioner’s association with the compiled financial information is communicated. Recognizing that a practitioner’s involvement in assisting management with financial information may take many forms, the standard also helpfully sets out considerations to help the practitioner determine whether its application is appropriate to the circumstances.[2] H7
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Selecting the Basis of Accounting -&E