The AICPA on April 7, 2025, published Statement on Standards for Accounting and Review Services (SSARS) No. 27, Applicability of AR-C Section 70 to Financial Statements Prepared as Part of a Consulting Services Engagement, to clarify that a practitioner does not have to apply AR-C Section 70 when financial statements are prepared as a by-product of client advisory services (CAS).
SSARS No. 27 is effective for the preparation of financial statements for periods ending on or after December 15, 2026. But practitioners can start applying now.
To dig deeper, visit the original article on the Thomson Reuters blog.