Annual Update and Practice Issues for Preparation, Compilation and Review Engagements - Webcast
Overview
By providing essential information to help train staff and manage preparation,compilation, and review engagements, this course will help participants comply with the professional standards surrounding engagements performed in accordance with Statements on Standards for Accounting and Review Services (SSARSs). This course explores the latest developments and case studies through a practice-oriented review that fosters an engaging and informative discussion among experienced participants.This practical approach enhances the learning experience, making the course educational and applicable.
OSCPA has partnered with the Idaho Society of CPAs for this event.
Highlights
- Preparation engagements
- Compilation engagements
- Review engagements
- Statement on Standards for Accounting and Review Services, including SSARS No.27, SSARS No. 26, SSARS No. 25, SSARS No. 24, SSARS No. 22, SSARS No. 23.
- Engagement administration issues
- Special purpose framework financial statement issues
- Current accounting and reporting issues
- What's on the horizon
Prerequisites
Experience with engagements performed in accordance with SSARS
Designed For
CPA firm seniors (and above) managing engagements performed in accordance with SSARS prerequisite.
Objectives
When you complete this course, you will be able to:
- Identify the types of engagements that require a report on the financial statements.
- Recognize the hierarchy of guidance that applies to preparation, compilation, and review engagements.
- Recall the accountant's responsibility for going-concern issues, subsequent events,and minimizing fraud-related risk.
- Recall the requirements of various SSARSs, including SSARS No. 27, SSARS No. 26.,SSARS No. 25., SSARS No. 24, SSARS No. 23, and SSARS No. 22.
- Identify the framework, objectives, and performance and documentation requirements of preparation, compilation, and review engagements.
- Recognize the effects of a change in level of service from an audit to a review.
- Recall the reporting guidance for issuing modified conclusions in review engagements.
- Recognize the different types of special purpose frameworks and common titles used in preparing special purpose framework financial statements.
- Identify some of the more common peer review findings in compilation and review engagements.
- Recall basic elements of some recently issued accounting standards.
- Identify recently issued quality management standards.
- Recognize current independence and ethics issues.
- Identify current issues identified by the Accounting and Review Services Committee.
Leader(s):
Leader Bios
Michael Brand, AICPA
Michael L. Brand was the chair of the ARSC from 2011 through 2015 during the time the SSARS 21 clarity project was underway. Mike is currently a partner in the firm of BMSS, LLC. He has been in the practice of public accounting for over 30 years. During those years he has been involved in all aspects of public accounting, with an emphasis in providing accounting, audit, and review services to clients in for profit, not-for-profit, and governmental sectors. He also teaches continuing education classes across the country, for which he has received the AICPA and ASCPA Outstanding Discussion Leader Award multiple times; and has spoken at several conferences nationwide and overseas. Additionally, he conducts peer reviews. Mike is the current chair of the ASCPA Board of Directors; co-chair of the AICPA’s ENGAGE conference; and current chair of the steering committee for National Advanced Accounting and Auditing Technical Symposium at ENGAGE. He also serves on the Accounting Advisory Council for the University of North Alabama. Previously, he was on the Professional Ethics Executive Committee, Peer Review Board, Joint Trial Board, and Quality Control Standards Task Force of the AICPA. Mike received his B.S. in accounting from the University of North Alabama.
(3/18/21)
Non-Member Price $410.00
Member Price $310.00