New compilation standard: Management briefing
Do you get a compilation or notice to reader (NTR) on your financial information? This publication helps management understand how changes to the compilation standard will impact them.
We have issued this management briefing to help facilitate discussions between management and practitioners on the new compilation standard, which is effective for periods ending on or after December 14, 2021 (with early application permitted). This briefing will help management understand how they meet any requests or requirements from third parties who use compiled financial information.
The briefing includes:
- an illustrative example of the new compilation engagement report
- an explanation of the new note required that will described the basis of accounting applied in the preparation of the compiled financial information
What else will management learn about?
- expected changes in the new compilation engagement
- summary of other possible engagements
What further information is available?
Check out our other useful resources, including a:
- Practitioner Alert
- Third Party Briefing
- Practitioner's Implementation Tool (coming soon)
- Practitioner's Pulse Webinar