Knowing the accounting principles is only half the story for most accountants in public accounting. You must also understand the myriad of rules relating the reporting requirements for compilations and review. To add to the confusion, there is now a new level of service known as a preparation, which has no report! This course will cover the nuts and bolts of these pronouncements as well as cover the theory required to make proper decisions.
Topics will include the most important issues related to compilations and reviews as well as the general requirements that apply to all SSARS engagements. Special attention will be placed on the provisions most important for compliance. We will include a section on using the AICPA Practice for developing your system of quality management. We will also cover the AICPA practice Aids for preparation engagements and review analytical procedures.
Learning Objectives
Upon completion of this course, participants will be able to:
Identify proper application of the provisions of SSARS
Implement a system of quality management using the AICPA Practice Aid
Identify reporting requirements for compilations and reviews.
Apply the provisions of the AICPA practice aid for preparation engagements
Apply the provisions of the AICPA Practice Aid for review analytical procedures
Apply the provisions for the compilation of financial statements
Describe peer review problem areas
Apply better practice skills