Compilation, Review, and Preparation: Introduction (Second Edition) (Currently Unavailable)

Author: James Ulvog

This course introduces the requirements for performing preparation, compilation, and review engagements. It covers the components of the SSARS that apply to all three types of services.

Note: This course does not contain audio.

Publication Date: January 2015

Topics Covered

• Guidance for Compilation, Review, and Preparation is in Different Sections of the SSARS
• Format of Standards
• Applicable Financial Reporting Framework
• Objectives for Preparation, Compilation, and Review Engagements
• Guidance for Performing Engagements
• Quality Control at the Engagement Level

Learning Objectives

• Describe how the guidance for preparation, compilation, and review engagements are separated in the SSARS literature
• Describe the effective date of SSARS 21; Identify the sources of applicable financial reporting frameworks
• Provide a general description of the new preparation service
• List the objectives for a preparation, compilation, and review engagement
• Define unconditional requirement and presumptively mandatory requirement
• Describe the different professional obligations when the SSARS literature identifies an item using unconditional requirement language, presumptively mandatory language, or the phrase "should consider"
• List guidance that was included in SSARS 19 but dropped from SSARS 21
• Describe those elements of a quality control system that are specifically mentioned in the SSARS literature

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Auditing (1 hour)

Program Prerequisites
None

Advance Preparation
None