How to Conduct a Compilation Engagementis a specialized course designed to demystify the process of compilation engagements for accounting professionals. It features an in-depth exploration of the steps and responsibilities outlined in SSARS 21, providing clarity on this less-intensive alternative to audits and reviews. Participants will benefit from detailed guidance on preparing engagement letters, compiling reports, and assembling documentation following a compilation engagement. The course also covers the accountant's responsibilities when engaged to prepare financial statements, offering insights into the ethical and professional considerations involved. By focusing on practical applications, this course equips professionals with the necessary skills to conduct compilation engagements efficiently, enhancing their ability to provide valuable services to clients while adhering to the latest standards and best practices.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Chapter 1
State the responsibilities of the accountant in a compilation engagement.
List the steps usually taken during a compilation engagement.
Identify the reasons why an accountant may withdraw from a compilation engagement.
Describe the contents of the documentation assembled following a compilation engagement.
Chapter 2
State the responsibilities of the accountant who has been engaged to prepare financial statements.
Major Topics
Conducting Compilation Engagement
Preparation of Financial Statements
