Topics covered include:
New compilation and review standards for 2015, including SSARS 21;
New issues in Compilation and Review engagement letters and review representation letters specified in SSARS 21 and earlier SSARSs;
An advanced look at documentation standards will be reviewed for changes required by new preparation, compilation and review standards;
Updates on previously issued standards that may still apply and their involvement with SSARS 21;
Status of IASB and International Financial Reporting Standards status as applies to compilation and review engagements;
Further updates that impact on compilation and review engagements that include: new Quality Control Standards (SQCS8) and its requirements;
Ethics Interpretation 101-3 will be explored for revisions and updates in attest/nonattest applications specifically dealing with compilation and review issues;
Any other matters deemed appropriate and timely.
Upon completing this course, you should be able to:
Identify the updates of the new compilation and review standards in SSARS 21 for 2015;
Recognize the selected revised professional compilation and review standards that still apply from earlier years;
Differentiate references between preparation and compilation;
Identify the procedures in a compilation report;
Recognize what to avoid when writing an engagement letter;
Identify requirements in the AICPA Peer Review Program;
Recognize basis of accounting methods used for various accounting practices;
Recognize under which circumstances an accountant should withdraw from a compilation engagement;
Identify which items should be included in the documentation of a compilation report;
Differentiate AR-C sections;
Describe SSARS 21 and how it applies to financial statements;
Identify the requirements for an engagement letter for financial statement preparation.
$ 120.00
Course is unavailable for purchase.
NASBA Field of Study
Accounting
Level
Intermediate
CPE Credits
2.0
Prerequisites
Basic knowledge of Compilation and Review.
Last Updated
10/01/2018
14721
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