AUD — Quick Sheet
Reviews, Compilations & AUP
Read time: ~5 minutes
One-minute revision
- Preparation → no assurance, no report ("no assurance" legend on each page)
- Compilation → no assurance, report issued, independence not required (disclose if lacking)
- Review → limited/negative assurance, independence required, inquiry + analytics only
- Audit → reasonable/positive assurance
- Review report key phrase: "not aware of any material modifications…"
- AUP → report of findings only, no assurance, generally restricted use
- Rep letter required for reviews, not compilations; engagement letter required for all SSARS work