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Performing Preparation, Compilation and Review Engagements

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2.00 Credits

Member Price $89.00

Non-Member Price $109.00

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Overview

Compliance with standards

Do you perform preparation, compilation, or review engagements? Staying in compliance with all professional standards surrounding engagements performed in accordance with Statements on Standards for Accounting and Review Services (SSARSs) is essential to your engagements.

You’ll gain insight into how to perform these engagements in accordance with the relevant guidance.

Building a foundation for successful engagements

You’ll cover several key topics to help you complete preparation, compilation, or review engagements successfully and compliantly. Topics covered include:

  • Frameworks, objectives, and general principles
  • Standards and guidance
  • Documentation

    Highlights

  • Engagement objectives
  • Performance requirements and standards
  • Documentation
  • Differences between compilation and preparation engagements
  • Engagement criteria
  • Changes in level of service

    Prerequisites

    None

    Designed For

  • CPA firm staff

    Objectives

    • Identify the framework and objectives of preparation engagements and of compilation engagements, and the general principles and objective of review engagements.
    • Recall the performance requirements for an engagement to prepare financial statements.
    • Recognize the documentation requirements for preparation engagements, compilation engagements, and review engagements.
    • Recognize the elements that make up a compilation engagement and the elements that make up a review engagement.
    • Distinguish a compilation engagement from a preparation engagement.
    • Identify the performance requirements for a compilation engagement and the performance standards for a review engagement.
    • Recognize the effects of a change in level of service from an audit to a review.

    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 AICPA.

  • Leader(s):

    Leader Bios

    Daryl Krause

    Mr. Krause has CPA Certifications and he practices in: Illinois, Indiana, Kentucky, Michigan, Ohio and Wisconsin as Manager & CEO of his firm, which he founded in 2005. Previously he enjoyed 23 years of diversified responsibilities with Ernst & Young. Industries he served included manufacturing, construction, real estate and financial services. Daryl was the Ohio Valley Area Director of Employee Benefit Plan Services specialty audit practice for 8 years responsible for the technical accuracy and quality of over 300,000 hours of employee benefit plan audit effort. Roles included sign-off partner for approximately one third of the entire area’s engagements, independent reviewer on approximately 100 additional plans per year and technical advisor for all work. As Senior Manager in the Entrepreneurial Services group for 3 years he managed a portfolio of corporate audit client relationships. Roles included providing SEC reporting assistance to new public companies, assisting in due diligence on potential acquisitions and helping companies improve their controls and financial reporting processes. He served in E&Y’s National Professional Development group as a Senior Manager for 5 years. Roles included designing, developing and delivering core curriculum Audit and Entrepreneurial Services training programs for the entire U.S. practice. Part of the 11 member team that completed the development effort to introduce the Ernst & Young Audit Approach training for Staff through Partner following the Ernst & Whinney and Arthur Young merger, which was deemed a critical success factor for the newly formed Ernst & Young.

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    Non-Member Price $109.00

    Member Price $89.00