You are a candidate for a job as a junior accountant at Streamz Accounting Firm, and you have made it past the initial interview phase. You must now demonstrate your ability to perform the necessary tasks for the job by preparing a summary that identifies the missing, critical information from a SSARS engagement report that was completed by an employee in the firm. Your interviewers want to evaluate how well you can assess these missing SSARS components to ensure that you can properly complete all the necessary elements with future clients.

Review the SSARS engagement report

Specifically, you must address the following:

 Describe the specific type of SSARS engagement presented in the report provided by the employee.

 Analyze the essential components that are missing from the provided report based on the engagement type$’$s requirements.

 Justify the rationale for including each required component of the engagement type used in the report.

Engagement Report

Dear Client,

I $($We$)$ have reviewed the accompanying documents of XYZ Company, which comprise the balance sheet

as of December $31,20$XX$,$ and the related statements of income, changes in stockholders$’$ equity, and

cash flows for the year then ended, and the related notes to the financial statements. A review includes

primarily applying analytical procedures to management$’$s $($owners$’)$ financial data and making inquiries

of company management $($owners$).$ A review is substantially less in scope than an audit, the objective of

which is the expression of an opinion regarding the financial statements as a whole. Accordingly, I $($we$)$

do not express such an opinion.

Accountant$’$s Responsibility

My $($Our$)$ responsibility is to conduct the review engagement in accordance with Statements on

Standards for Accounting and Review Services promulgated by the Accounting and Review Services

Committee of the AICPA. Those standards require me $($us$)$ to perform procedures to obtain limited

assurance as a basis for reporting whether I am $($we are$)$ aware of any material modifications that should

be made to the financial statements for them to be in accordance with accounting principles generally

accepted in the United States of America. I $($We$)$ believe that the results of my $($our$)$ procedures provide

a reasonable basis for my $($our$)$ conclusion.

I am $($We are$)$ required to be independent of XYZ Company and to meet our other ethical

responsibilities, in accordance with the relevant ethical requirements related to our reviews.

Based on my $($our$)$ review, I am $($we are$)$ not aware of any material modifications that should be made to

the accompanying financial statements in order for them to be in accordance with accounting principles

generally accepted in the United States of America.

Streamz Accounting Firm

Columbia, SC

$12-31-20$XX