Third Party Verification (Comfort) Requests- What Are Options for Responding and How to Determine Which Professional Standards to Apply?
Overview
Frequently, third parties may request certain financial and nonfinancial information to be verified by the external accountant (often referred to as ";comfort letters"). This course will provide insight into how to respond to requests for comfort in a way that will minimize professional liability risk.
Highlights
- Common third party verification requests
- Differentiating the allowable options for responding to requests for comfort, including SSARS, SAS and SSAE engagements
- Critical elements of professional standards that may apply to nonattest and attest services performed
- Establishing an understanding with the client regarding the nature and scope of services
Prerequisites
None
Designed For
Anyone who performed nonaudit services
Objectives
- Describe the various nonattest and attest options available for appropriately responding to third party verification requests
- Explain how to select the most appropriate type of engagement to meet the client's needs
- Discuss how to meet the needs of your client and satisfy third parties, without putting your practice at risk
Preparation
None
Notice
This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by Accounting Continuing Professional Education Network (ACPEN).
Leader(s):
Leader Bios
Jennifer Louis, Emergent Solutions Group LLC
Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of technical and "soft skills" topics needed for professional and organizational success.
In 2003 she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. She currently resides in Charlotte, NC.
Non-Member Price $109.00
Member Price $79.00