Title: | Auditing: The Compilation and Review Standards: SSARS No. 21-25 |
Category: | Accounting and Auditing |
Field of Study: | Auditing |
Course Code: | A020-0261 |
CPE Credits: | 12.0 |
Price: | $79.95 |
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Description:
The purpose of this course is to inform the reader of the various changes made to the compilation and review codification by SSARS No. 21 as amended by SSARS No. 22, Compilation of Pro Forma Financial Information, SSARS No. 23, Omnibus Statement on Standards for Accounting and Review Services- 2016, and SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services- 2018, and SSARS No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions.
The course addresses the three types of engagements that can be performed under the SSARSs: a preparation of financial statements engagement, a compilation engagement, and a review engagement.
This course fulfills the California requirement for 8 hours of preparation engagement.
Delivery Method: Online Interactive Self-Study
Level: Overview
Prerequisites: None
Advanced Preparation: None
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Author: Steven C. Fustolo
Category: Accounting and Auditing
Field of Study: Auditing
Passing Score: 70%
Publication Date: 05/02/2022
Technical Details: Auditing is a technical field of study.
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Objectives:
Section I and II:
1. Identify some of the changes in SSARS No. 21, as amended by SSARS No. 23, that are and are not carried over from auditing standards
2. Identify engagement types that are and are not authorized under SSARS No. 21
Section III:
1. Recall whether the preparation of financial statements standard is an attest or nonattest service
2. Recognize the term that is assigned to engagements performed on the cash, tax and regulatory bases of accounting
3. Recall whether a preparation engagement under AR-C 70 is subject to peer review
4. Identify whether a report is required in a preparation of financial statements engagement under AR-C 70
5. Recognize what the reporting requirements are, if any, when a "no assurance" legend is omitted from prepared financial statements under the AR-C 70 standards
6. Recognize an acceptable location in which to place the description of a special purpose framework in a preparation of financial statements engagement
7. Identify where to disclose GAAP departures in a preparation of financial statements engagement
8. Recognize whether an accountant and a client must sign an engagement letter for a preparation of financial statements engagement under AR-C 70
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