SSARS 21 significantly changed the way CPA services are being offered. There is still confusion about CPA responsibilities and procedures. The course will discuss differences between bookkeeping, preparation and compilation engagements and how they differ. It will also discuss financial statement frameworks and how they influence the engagement as well as analytical procedures in review engagements.
Learning Objectives
Recognize management’s responsibilities in preparing financial statements. Identify the practitioner’s responsibilities when performing SSARS services. Determine the new Quality Management Standards. Distinguish and compare GAAP and special purpose frameworks. Recognize the need for engagement letters in clearly differentiating the services offered.
Major Topics
• All recently issued SSARS standards
• Financial reporting frameworks
• Distinguishing special purpose frameworks from GAAP
• CPAs reporting on financial statements
• Financial statement disclosures
• Recently issued ethics standards
• Peer Review Deficiencies
