Compilation, Review, and Preparation: The Engagement (Fifth Edition) (Currently Unavailable)

Author: James Ulvog

This two CPE hour course examines the elements of a compilation or review engagement and the complexities of SSARS engagements.

Note: This course does not contain audio.

Publication Date: April 2015

Topics Covered

• Acceptance/Continuance Requirements
• Engagement Letter Under SSARS 21
• Documentation
• Consideration of Internal Control in a Compilation or Review Engagement
• Inquiries and Analytical Procedures in a Review Engagement
• Responsibility for Incomplete or Incorrect Information
• Accountant's Consideration of an Entity's Ability to Continue as a Going Concern
• Communicating to Management and Others if a Possible Fraud or Noncompliance is Identified
• Independence Requirements
• Compilation and Review Engagement Complexities
• Communications Between Predecessor and Successor Accountants

Learning Objectives

• Recognize the guidance requirements which must be followed when conducting a compilation or review.
• Identify the rules found in SSARS 21, Statements on Standards for Accounting and Review Services: Clarification and Recodification.
• Recognize the accountant's responsibility regarding fraud when performing a compilation engagement.
• Identify the differences between the words "should", "must" and "should consider" as defined in the SSARS literature.

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
Basic knowledge of compilation and review procedures

Advance Preparation
None