You are a senior assurance professional at a reputable accounting firm, Eagle Eye Assurance Services, where you serve as the resident expert on attestation engagements. The firm has a high-profile new client, Fusion Technologies, which is a rapidly growing technology company seeking to go public soon. Fusion Technologies needs you to provide assurance on their financial statements and internal controls. It’s your responsibility to lead your team in ensuring a comprehensive attestation plan that effectively integrates SSAE steps.
Write a professional memo that informs your coworkers and guides them through the process of properly integrating the SSAE steps for an attestation engagement of your choosing, selected from the provided list. Specifically, you must address the following rubric criteria:
Outline the necessary SSAE steps the firm must take for a selected attestation engagement. To complete this step, choose from the list:
Examination engagement
Review engagement
Compilation engagement
Explain how the firm must complete risk assessment and determine materiality.
Describe the necessary documentation steps the firm must take.
Discuss the ethical considerations that must be included to adhere to SSAE standards.