ppc guides

If preparing financial statements for 12/31/13 during 2015 should the new ppc quides which were issued 4/2015 be used or should the 2014 or 2013 guides be used? If anyone has the answer would you please provide source document or location to it?

I don't have a source right now but when financial statements are prepared, they are subject to the standards in effect at the time of preparation. Imagine if you were preparing comparative financial statements when there has been a change in the standards you have to present the prior period numbers under the new standards. There'd be a note, etc.

So use the PPC guide in effect at the time of preperation.

ps. I see I'm about 3 months late in getting to this but just in case anyone stumbles across this questions and wants an answer.

The most significant change to the Statements on Standards for Accounting and Review Services (SSARS) since their inception in 1978 is SSARS 21. It supersedes all SSARS through SSARS No 20 except SSARS No 14. It is effective for periods ending on or after December 31, 2015. Early implementation is permitted.

Who has the best examples for engagement and opinions for 12/15/15 and after for compilations. I printed the booklet from the AICPA and did ge the new PPC for Compilations and Reviews. Really would like something for just "compilations" and more precise that the examples. 99% is for reviews.

I have spent way to much time on this, but I am starting to she the light (hope it is not a train) and will send out engagement letters next week. today a group of about 25 CPAs who meet Mondays for TAX are getting a presentation for financial statement presentation with #21.

It was a good review the presenter's firm had gone to applying 21 last year. One of the points she made was the "70" preparation of financials if you do give a report there is no problem of third parties seeing it. However, that does give you
peer review status. Also if you do compilations you are automatically in the peer review group, in most states, and they will also ask (or can) for the "70" financial statements to look at during that peer review. So there probably is not any escape from the peer for most of us - I think I will move probably 80% to financial statements covered by (70) and the other (20%) are compilations and review their status at the end of the year. Engagement letters are stressed, but we have always had them signed and will make appropriate changes to the letters.

I spent too much time trying to understand all of this.

Jon