Preparations, Compilations, and Reviews: Updates, Issues, and Answers (Completed)
Date: Thursday, September 14, 2017
Instructor: Pat Patterson
| Begin Time: |
7:00am Pacific Time
8:00am Mountain Time
9:00am Central Time
10:00am Eastern Time |
| CPE Credit: |
8 hours for CPAs |
|
Join Pat Patterson, CPA, for a deep-dive session about the new 2017 and 2016 preparation, compilation, and review professional standards, which represent significant changes in authoritative professional standards like SSARS 21, 22, and 23. Engagement Letters, Reports, Disclosures, Documentation, and Ethical considerstions from the newly Revised Code of Porfessional Conduct are explained, discussed, and examples are given for illustrations. Attest vs nonattest issues are dealt with including independence and 1.295.
Comp and review engagements have changed in recent years and the standards have continued to be adjusted and implementation is an ongoing process for both CPA firms and their clients. Mr. Patterson will guide you through the changes and explain how to make sure your comp and review engagements are following the latest guidelines.
This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.
Who Should Attend
Professionals in public practice, industry, government, and education who deal with nonpublic entities and need a course in preparation, compilation and review engagements and procedures
Topics Covered
- Preparation, compilation, and review standards for 2017 and 2016, including SSARS 21, SSARS 22, and SSARS 23
- New engagement, reporting, and documentation issues about Preparation of Financial Statements, Compilations, and Reviews
- New issues in Preparation, Compilation, and Review engagement letters and review representation letters specified in SSARS 21,22, and 23 and earlier SSARSs
- An advanced look at documentation standards will be reviewed for changes required by new preparation, compilation and review standards
- Status of IASB and International Financial Reporting Standards status as applies to preparation, compilation and review engagements
- Further updates that impact on compilation and review engagements that include: new Quality Control Standards (SQCS 8) and its requirements; status of "Mobility" issues combined with "Substantial Equivalency"; status of Peer Review and related regulatory problems and changes
- Ethics 1.295 will be explored for revisions and updates in attest/nonattest applications specifically dealing with preparation, compilation and review issues
- Updates on OCBOA Issues
Learning Objectives
- Apply 2016 and 2017 preparation, compilation and review professional standards.
- Explain significant changes to SSARS 21, 22 and 23
- Discuss ethical considerations under Revised Code of Professional Conduct
- Explain attest versus nonattest issues with regard to independence and 1.295
Level
Intermediate
Instructional Method
Group: Internet-based
NASBA Field of Study
Accounting (8 hours)
Program Prerequisites
Basic understanding of compilation and review engagement standards
Advance Preparation
None
