Compilations, Reviews, and Preparations: Engagement Performance and AnnualUpdate

Description

Specifically designed for preparation, compilation, and review practitioners and their staff, this course will provide you with a comprehensive review and hands-on application for performing financial statement preparation, compilation, and review engagements. You will learn the ins and outs of applying SSARS No. 21, Clarification and Recodification, as well as the additional guidance related to SSARS engagements through the issuance of SSARS Nos. 22 and 23 by the ARSC of the AICPA. The course will perform a detailed review of the key provisions of the recently issued SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services - 2018, including reporting in a review when going concern considerations exist. Lastly, we will review what accountants must do differently in 2021 with the effective date of SSARS No. 25. Not only will this course bring you up to date on SSARS requirements and guidance, but more importantly, it will provide you with practical examples and illustrations to help you effectively and efficiently perform these types of engagements. This course is intended to be your go-to reference for training your staff and managing your SSARS No. 21-25 services in compliance with professional, ethical, and technical requirements.

Highlights

SSARS No. 21, Clarification and Recodification, and updates to SSARS No. 21 due to the issuance of SSARS No. 23, Omnibus Statement on Standards for Accounting and Review Services SSARS No. 22, Compilation of Pro Forma Financial Information SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services - 2018 SSARS No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions Sample comprehensive engagement work programs for preparation, compilation and review engagements Reporting and disclosure illustrations for each level of service, including attesting on personal financial statements, prescribed form, special purpose framework and other engagement variations Other communication requirements, such as sample engagement letters and management representation letters Going concern reporting implications on SSARS engagements due to COVID-19 and other issues

Objectives

Understand, apply SSARS No. 21, Clarification and Recodification Be familiar with changes due to the issuance of SSARS Nos. 22-25 Be familiar with compilation and review program examples and disclosure illustrations Identify and apply compilation, preparation, and review procedures Be aware of the most recent compilation and review reports and other communications Utilize hands-on examples and illustrations to increase your overall understanding and application of the material

Designed For

Accounting practitioners & their staff performing and managing compilation, preparation, and review engagement services