Factsheet 163 - Audit Exempt Companies - ACCA Accounts Preparation Report
Factsheet 163 provides ACCA practising members with guidance on engagements to prepare financial statements for limited companies and other incorporated entities. The guidance outlines the minimum requirements for an accounts preparation engagement and it is not exhaustive of any additional work or procedures that the practitioner might consider appropriate in the context of a specific engagement or that have been agreed with the client. In particular the factsheet primarily deals with the ACCA accounts preparation report, which is a cross-profession report agreed by the Consultative Committee of Accountancy Bodies (CCAB) aimed at the preparation of accounts of incorporated entities. In this guidance references to accounts preparation engagements can be considered interchangeable with references to compilation engagements. The guidance covers entities which are exempt from the requirement to have their accounts audited under relevant legislation.
The view the factsheet, click here.