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
