Preparation Engagements and Professional Standards
Author: Pat Patterson
| CPE Credit: |
2 hours for CPAs |
This course is about the preparation professional standards, which represent significant changes in authoritative professional standards like SSARS 21, thru 26. Engagement Letters, Reports (or lack thereof), Disclosures, Documentation, and Ethical considerations from the newly Revised AICPA Code of Professional Conduct are explained, discussed, and examples are given for illustrations. Selected attest vs nonattest issues are dealt with. Selected Independence and Ethics 1.295 concepts are managed.
Publication Date: September 2023
Designed For
Attorneys, CPAs, and Enrolled Agents.
Topics Covered
- New preparation engagement standards for 2016 through 2023 including SSARS 21 thru SSARS 26
- Issues about Preparation engagements
- New issues in Preparation engagement letters
- A selected look at documentation standards which will be reviewed for changes required by new preparation
- The AICPA's Revised Code of Professional Conduct - Ethics 1.295 will be explored for revisions and updates in attest/nonattest applications specifically dealing with preparation engagements
- Updates on preparation engagements and OCBOA issues
Learning Objectives
- Identify the changes in preparation standards for SSARS 21 thru SSARS 26
- Identify the new issues about Preparation of Financial Statements
- Identify the issues in Preparation engagement letters specified in SSARS 26 and earlier SSARSs
- Describe documentation standards which will be reviewed for changes required by new preparation standards plus documentation outside of SSARS 21 — 26
- Describe the provisions of Ethics 1.295 for revisions and updates in attest/nonattest applications specifically dealing with preparation issues
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
Basic understanding of AR-C Preparation Engagements
Advance Preparation
None
