Compilation & Review in the Red Zone

Authored by Pat Patterson
About this Course
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
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NASBA Field of Study
CPE Credits
Basic knowledge of Compilation and Review.
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