2026 Preparation, Compilation, Review, Audit, and Attestation: Differences
Author: Pat Patterson
| CPE Credit: |
2 hours for CPAs |
This online update course provides accounting and auditing professionals with a practical, side-by-side comparison of preparation, compilation, review, audit, and attestation engagements under current AICPA professional standards. Designed to clarify application differences and compliance responsibilities, the program examines how each type of engagement differs in scope, assurance level, reporting, documentation, independence, and ethical requirements.
Participants will explore current SSARS guidance, auditing and attestation standards, and the AICPA Code of Professional Conduct, with particular attention to engagement letters, reporting requirements (or the absence of reports), disclosure considerations, and documentation expectations. The course also addresses emerging compliance topics, including the auditor and accountant’s responsibilities related to Responding to Noncompliance with Laws and Regulations (NOCLAR) and the profession’s transition from quality control to a risk-based Quality Management framework under SQMS No. 1. Through practical examples and comparisons, this course equips practitioners to properly select, perform, and document engagements while managing risk and meeting professional obligations.
Publication Date: May 2026
Designed For
This course is designed for professionals who perform, supervise, or rely on nonpublic entity financial statement services and need clarity on engagement differences and compliance requirements.
Topics Covered
- Overview of preparation, compilation, review, audit, and attestation engagements
- Comparative analysis of assurance levels, scope, and objectives
- Applicable professional standards: SSARS, SASs, and SSAEs
- Engagement letters, reporting requirements, and disclosure differences
- Independence and ethical considerations under the AICPA Code of Professional Conduct
- Responding to Noncompliance with Laws and Regulations (NOCLAR)
- Quality Management standards and the transition from QC Section 10 to SQMS No. 1
Learning Objectives
- Identify preparation, compilation, review, audit, and attestation engagements and the level of assurance provided by each
- Compare the scope, reporting requirements, and documentation expectations across different engagement types
- Determine which professional standards apply to each type of engagement, including SSARS, SASs, and SSAEs
- Apply ethical and independence requirements relevant to different engagement classifications and services
- Identify professional responsibilities related to Responding to Noncompliance with Laws and Regulations (NOCLAR)
- Distinguish between the former quality control model under QC Section 10 and the risk-based Quality Management framework under SQMS No. 1
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)
Program Prerequisites
General understanding of SSARS, auditing, and attestation requirements
Advance Preparation
None
