Implementation of CSRS 4200 Compilation Engagements – Common Deficiencies
The implementation of CSRS 4200 is the most significant change accounting firms have faced in over 30 years. We have published our findings from cyclical monitoring engagements completed, to assist firms in ensuring their templates and processes are aligned with the new requirements.
Our findings include observations of practice management decisions firms have made as well as common deficiencies, with related explanations, in each of the following areas:
- Engagement acceptance and/or continuance, including considerations around intended uses and users
- Engagement performance and sufficiency of documentation
- Completeness and clarity of the basis of accounting disclosure
If you would like direct feedback, we can complete cyclical monitoring of your firm’s compilation engagements and provide you with firm specific recommendations, you can complete this quick 2 minute survey or contact us.
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