Performing & Reporting Compilation & Review Engagements (Currently Unavailable)
Author: Jessie Kanter
| CPE Credit: |
2 hours for CPAs |
This on-demand course will provide practitioners a foundation and overview of the requirements and common procedures performed for review and compilation engagements.
Publication Date: July 2018
Topics Covered
- SSARS Framework for Compilations and Reviews
- SSARS Requirements — Compilations
- Common Compilation Procedures
- SSARS Requirements — Reviews
- Common Review Procedures
- Accountants' Reports: Reporting Requirements and Modifications to Reports
- Preparation of Financial Statements (AR-C 70)
- Common Deficiencies in Compilation and Review Engagements
Learning Objectives
- Identify the requirements of SSARS related to compilation and review engagements
- Recognize the common compilation and review procedures performed
- Describe the reporting on review and compilation engagements
- Recognize the modifications to the standard review and compilation reports
- Differentiate AR-C sections
- Identify the new section on international reporting issues
- Recognize what to do if an accountant becomes aware that the financial information presented in a client's financial statements is incorrect
- Differentiate correct statements representing compilation engagements and preparation engagements
- Describe accountant independence for a compilation engagement
- Identify how materiality applies in a review engagement
- Recognize which confirms the representations explicitly or implicitly communicated to the accountant
- Describe the SSARS requirements for an accountant's compilation report
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
None
Advance Preparation
None
