Compilation & Review in the Red Zone (Completed)

Learn about the latest compilation and review professional standards, which represent many significant changes to these standards that came with the release of SSARS 21. Clients are confused by these changes and comp and review services must be clearly spelled out. Experienced practitioner and accounting educator Pat Patterson, CPA, will review pertinent, specially selected standards from earlier years.

Who Should Attend
Professionals in public practice, industry, government, and education who deal with nonpublic entities and need a course on compilation and review.

Topics Covered

• Recent compilation and review standards, including SSARS 21
• New issues in Compilation and Review engagement letters and review representation letters specified in SSARS 21 and earlier SSARSs
• An advanced look at documentation standards will be reviewed for changes required by new preparation, compilation and review standards
• Updates on previously issued standards that may still apply and their involvement with SSARS 21
• Status of IASB and International Financial Reporting Standards status as applies to compilation and review engagements
• Further updates that impact on compilation and review engagements that include: new Quality Control Standards (SQCS8) and its requirements
• Ethics Interpretation 101-3 will be explored for revisions and updates in attest/nonattest applications specifically dealing with compilation and review issues
• The latest developments that will affect comp and review engagements including changes to the changes that firms are implementing

Learning Objectives

• Identify the updates of the new compilation and review standards in SSARS 21
• Recognize the selected revised professional compilation and review standards that still apply from earlier years

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
Basic knowledge of Compilation and Review.

Advance Preparation
None