Skip To Main Content
Three business people working together around a laptop.

New compilation standard: Third-party briefing

Do you request a compilation or notice to reader (NTR) on financial information? This publication helps third parties understand how changes to the compilation standard will impact them.

We have issued this briefing to help facilitate discussions between management, third parties 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 third parties understand the nature of a compilation engagement and other services available, and inform them of the changes resulting from the new standard, including:

  • an illustrative example of the new compilation engagement report they can expect to see
  • an explanation of the new note required that will describe the basis of accounting applied in the preparation of the compiled financial information

What else will third parties learn about?

  • what is a compilation engagement
  • why a change was needed
  • summary of other possible engagements

What further information is available?

Check out our other compilation resources, including a:

  • Practitioner Alert
  • Management Briefing
  • Practitioner's Implementation Tool (coming soon)
  • Practitioner's Pulse Webinar