SSARS 21 Update & Interpretation 1.295 (Completed)

Review new SSARS Pronouncements (SSARS 21, 22, and 23) . Special consideration given to those pronouncements that may apply to Preparation, Compilation and Review engagements. Learn about the new SSARS Pronouncements from the Accounting and Review Services Committee that is requried to be implemented in 2016 and 2017 for preparation, compilation, and review engagements. These changes represent the most significant changes to these standards in over 30 years. Review pertinent, specially selected standards from earlier years.

Who Should Attend
Professionals in public practice, industry, government, and education who deal with nonpublic entities.

Topics Covered

• New preparation, compilation, and review standards for 2017
• New issues about the concept of materiality for preparation, compilation, and review engagements
• New issues in preparation, compilation, and review engagement letters and review representation letters specified in SSARS 21, 22, and 23
• Documentation standards will be reviewed for any changes required by new SSARS 21,22, and 23 standards
• Updates on previously issued standards for documentation that may still apply and their involvement with SSARS 21 in 2017
• The revised requirements of Ethics 1.295 (formerly Ethics Interpretation 101-3) will be explored for revisions and updates in nonattest services for attest clients that specifically deal with preparation, compilation, and review issues

Learning Objectives

• Recognize how to properly complete engagement letters for preparation, compilation, and review engagements
• Identify how to correctly document issues for preparation, compilation, and review engagements
• Recognize how to complete accounting reports for the new standards.
• Evaluate and communicate to management the new requirements of "going concerns" standards from the FASB

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
General knowledge of generally accepted accounting principles and compilation and review standards.

Advance Preparation
None