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Discuss the Six Statements on Standards for Accounting and Review

question 70

Essay

Discuss the six Statements on Standards for Accounting and Review Services (SSARS) requirements that must be met when an accountant is performing a compilation of financial statements.


Definitions:

Negligent Misrepresentation

Providing false or misleading information carelessly, leading to someone else making a detriment based on that information.

Supreme Court of Canada

The highest court in Canada, serving as the final court of appeal and determining the ultimate interpretation of Canadian law.

Fiduciary Duty of Care

A legal obligation of one party to act in the best interest of another when entrusted with a particular responsibility.

Professional Service

Services offered by individuals or firms with specialized knowledge or skills, usually requiring certification or licensing.

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