Elimination of Certain References to Statements on Auditing Standards and Incorporation of Appropriate Guidance Into Statements on Standards for Accounting and Review Services -- SSARS No. 15

Effective for compilations and reviews of financial statements for periods ending on or after December 15, 2007 with early application permitted, this SSARS provides new or enhanced guidance by:

• Providing a definition of other comprehensive basis of accounting (OCBOA).
  
• Providing examples of appropriate OCBOA financial statement titles.
  
• Providing reporting examples for compilations and reviews of OCBOA financial statements.
  
• Providing guidance on emphasizing a matter when reporting on compiled or reviewed financial statements.
  
• Clarifying the accountant’s responsibility with respect to facts discovered subsequent to the date of the accountant’s compilation or review report.
  
• Providing additional illustrative representations that may be appropriate for inclusion in the management representation letter.
  
• Providing a new appendix entitled “Sources of Generally Accepted Accounting Principles”.