Compilation, Review, and Preparation: Preparation Engagements (Completed)

Date: Thursday, October 10, 2019
Instructor: Salvatore Collemi
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs

This session will address the key requirements in performing preparation engagement services under the AICPA’s Statements on Standards for Accounting and Review Services (SSARS) - AR-C Section 70.

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

Topics Covered

  • Brief overview and background on Preparation Engagements under AR-C Section 70
  • SSARS Standards 22 and 23
  • What triggers a preparation engagement as compared to a compilation engagement?
  • What impact do preparation engagement have on your next AICPA Peer Review?

Learning Objectives

  • Recognize how to properly draft an engagement letter for a preparation engagement
  • Recognize how to properly document your procedures in the workpapers for preparation engagements
  • Evaluate and communicate to management the requirements of standards for preparation engagements
  • Identify an area where the requirements for compilation and preparation engagements are aligned as well as the differences
  • Recognize proper AR-C sections with respect to SSARS
  • Identify responsibilities of management for an entity of a preparation engagement
  • Differentiate correct statements and requirements with respect to SSARS No. 22
  • Identify key changes made based on the issuance of SSARS No.23

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
None

Advance Preparation
None

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