SSARS Practice Issues & Standards Update 25-26

Overview

SSARS #21 codified and clarified all previous SSARS standards and was effective for financial statements ending on or after December 15, 2015. It revised existing standards, upgraded service requirements and introduced a new level of service, the Preparation Engagement. SSARS #21 requires numerous practice issues for the various service levels, including confirming the services to be provided to the client, attest vs. non-attest services, required procedures to be performed and documentation of them and reporting requirements for each level of service. SSARS #21 also addresses specific issues overlooked in the original standard. Updates to SAS #21 are also provided and discussed.