SSARS 25 and Beyond - Updated Rules for Accounting, Reviews & Compilations
Author: Robert K Minniti
| CPE Credit: |
2 hours for CPAs |
In February 2020 the Statement on Standards for Accounting and Review Services (SSARS) NO. 25 Materiality in a Review of Financial Statements and Adverse Conclusions was issued. SSARS No. 26 was passed and clarified some positions in the standards including the preparation of financial statements, compilation engagements, review engagements, engagement letters, documentation, independence, ethical considerations and reports and disclosures. This course reviews the new standards for compilations and reviews of financial statements for nonpublic companies and businesses as well as the new standards for preparing financial statements. This includes a discussion on materiality, going concern issues, and adverse conditions. We will discuss the application of the new standards.
Publication Date: June 2025
Designed For
This course would be appropriate for CPAs, CMAs, CIAs, CFEs, CGMAs, CFFs, MAFFs, CFOs, CEOs, business owners, business managers, internal auditors, external auditors, corporate accountants, government accountants and anyone else in the accounting or auditing profession.
Topics Covered
- Review of the Financial Statement Assertions
- SSARS - Statements and Standards for Accounting and Review Services
- Compilations
- Reviews
Learning Objectives
- Identify the new requirements in SSARS 25
- Identify the new requirements in SSARS 26
- Identify new compilation and review requirements
- Identify the organization that is proposing new rules on fees for attest engagements
- Identify an approved rule for determining materiality in an engagement
- Identify the year SSARS No. 1 was issued
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
None
Advance Preparation
None
