Compilation, Review, and Preparation: Review Engagement Procedures

Authored by James L. Ulvog, CPA
About this Course
The focus of this course is to describe the components of SSARS that apply to a review engagement. This course covers the procedures performed during a review engagement, which are covered in section 90 of SSARS 21. Upon completion of this course, you will be able to do the following: Define unconditional requirement and presumptively mandatory requirement; Describe the different professional obligations when the SSARS literature identifies an item using unconditional requirement language, presumptively mandatory language, or the phrase should consider; Identify the effective date of SSARS 21; Describe the objective of a review; Explain the requirement to be independent when performing a review engagement; Describe how materiality is incorporated to a review engagement; Identify items that should be addressed when an accountant establishes an understanding with the client; Describe the requirement to obtain a signed, written understanding with the client; Explain the need to obtain certain understandings with management when the engagement letter has been signed by those charged with governance; Explain that a review should include gaining an understanding of the industry and the client; Explain the accountant’s consideration of risk when performing a review engagement; Describe the types of analytical procedures that may be performed during a review; Describe the types of inquiries that may be performed during a review; Explain that the accountant should read the financial statements and reconcile them to the underlying accounting records; List the information that should be included in a representation letter and the ramifications if a client does not provide a representation letter.
$ 36.00
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NASBA Field of Study
CPE Credits
Compilation, Review, and Preparation: Introduction, or equivalent knowledge
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