- Understand which clients need what level of service
- Obtain an overview of the standards, interpretations, and practice problems involved in compilation and review today.
- Become aware of the changes to compilation and review standards involving the SSARS 19 clarity redrafting project.
- Recognize the potential benefits and drawbacks to preparation engagements
- Appreciate the increasing formalization of review practices mandated by SSARS 24& 25
To provide participants with an overview of the issues that the profession faces that affect preparation, compilation and review engagements. Coverage will reflect the most recently issued authoritative literature illustrating the accountant’s responsibilities. Course content will focus on the role of the CPA in providing a range of accounting and financial statement servies to closely held businesses.
- The SSARS codification & the CPA’s responsibilities
- SSARS review: Compilation, Review, & Audit: performance requirements distinguished
- Bookkeeping, Preparation & Accounting services: differing professional responsibilities
- Practice Issues: analytics, tailoring, misstatements & documentation
- The iterative nature of the review: when to stop
- Illustrative reports
- The SSARS 21 framework for preparing financial statements
- SSARS 24: Going Concern disclosures
- Materiality & Risk Based Reviews: SSARS 25
Maryland Association of CPAs
Professional Area of Focus
Who Should Attend
Accountants in public practice and industry who carry out preparation compiled, reviewed, statements and need to gain an understanding of recent authoritative literature and changes in the practice environment.
Register for this Event
COMPILATION, & REVIEW UPDATE: SSARS 21-25