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Plain paper financial statements--do they meet the test?

In September 1995, the AICPA Accounting and Review Services Committee (ARSC) issued an exposure draft entitled, Assembly of Financial Statements for Internal Use Only. This proposed Statement on Standards for Accounting and Review Services (SSARS) provides an exemption from the requirements of SSARS 1 and, in doing so, defines a new level of service by which CPAs can submit financial statements to a client. [See page 8 for an update on the status of the proposed statement.]

ASSEMBLY OF FINANCIAL STATEMENTS

The proposed SSARS defines assembly of financial statements as follows:

Providing various manual or automated bookkeeping or data processing services, the output of which is in the form ...

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