Before this auditing CPE course, the realm of review engagements might seem intricate and challenging, especially in understanding and applying analytical procedures and inquiries. How to Conduct a Review Engagement serves as a bridge to overcome this challenge. After completing the course, participants will transition from uncertainty to a comprehensive understanding of review engagements. The audit CPE course covers the nature of analytical procedures, the preparation of engagement letters, and the elements of a review report. Participants will learn to evaluate the suitability of review engagements, handle client inquiries effectively, and assess material misstatements. This transformation is vital for accountants and financial professionals, enhancing their ability to conduct review engagements with confidence and accuracy, in accordance with SSARS 21 standards.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recognize the situations in which the accountant cannot accept a review engagement.
List the contents of an engagement letter.
Identify the reasons why the accountant needs an adequate knowledge of the client's business.
Describe the different types of analytical procedures that can be used as part of a review engagement.
List the different types of inquires that an accountant would make as part of a review engagement.
Describe the decision criteria for judging whether an uncorrected misstatement is material.
Recognize the types of evidence indicating that a client may not be able to continue as a going concern.
Recognize the available methods for keeping a review report from being used in the future by a client.
Identify the contents of a representation letter.
Recognize how the accountant handles a client request to use financial statements prepared in accordance with a special purpose framework.
Major Topics
Conducting Review Engagement
Analytical Procedures
Variations of the Accountant's Review Report
