Compilation, Review, and Preparation Series: Review Engagement Procedures
Author: Salvatore Collemi
| CPE Credit: |
2 hours for CPAs |
This on-demand course will focus on SSARS No. 21, Statement on Standards for Accounting and Review Services: Clarification and Recodification, on the performance of review procedures. We will start first with the fundamental training on the general principles and objective of a review engagement followed by a few challenging areas we have seen in practice. We will also address the most recent changes resulting from the issuance of SSARS No. 22 and SSARS No. 23, to help CPAs and practitioners comply with the latest changes in regulations.
Publication Date: September 2019
Designed For
CPAs and practitioners who frequently perform review engagements under the AICPA SSARS requirements.
Topics Covered
- Introduction
- Review Engagements
- Common SSARS Reviews Deficiencies
- New Standards
- Resources and Tools
- Closing Remarks
Learning Objectives
- Recognize how to appropriate performance of review engagements
- Identify the general principles and objective of review engagements
- Describe the reporting requirements associated with review engagements
- Recognize and apply independence requirements associated with review engagements
- Describe the AICPA's Code of Professional Conduct that impacts practitioners performing review engagements
- Differentiate AR-C Sections and how they apply
- Recognize when a practitioner should accept an engagement
- Identify threats to independence
- Recognize the steps when performing analytical procedures
- Identify the comparison of relationships between financial statement accounts between two periods or over time
- Describe which organization issues Statements on Standards and Review Services (SSARS)
- Identify engagement letter best practices
- Describe trend analysis
- Identify suggested additional review documentation as compared to required documentation
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Auditing (2 hours)
Program Prerequisites
None
Advance Preparation
None
