Annual Update and Practice Issues for Preparation, Compilation and Review Engagements WEBCAST - Partnered with the Idaho Society
Overview
By providing essential information to help train staff and manage preparation, compilation, and review engagements, this course will help participants comply with the professional standards surrounding engagements performed in accordance with Statements on Standards for Accounting and Review Services. This course explores the latest developments and case studies through a practice-oriented review that fosters an engaging and informative discussion among experienced participants. This practical approach enhances the learning experience, making the course educational and applicable.
Highlights
Preparation engagements. Compilation engagements. Review engagements. Statement on Standards for Accounting and Review Services, including SSARS No.27, SSARS No. 26, SSARS No. 25, SSARS No. 24, SSARS No. 22, SSARS No. 23. Engagement administration issues. Special purpose framework financial statement issues. Current accounting and reporting issues. What’s on the horizon.
Prerequisites
Experience with engagements performed in accordance with SSARS.
Designed For
CPA firm seniors managing engagements performed in accordance with SSARS prerequisite.
Objectives
Identify the types of engagements that require a report on the financial statements. Recognize the hierarchy of guidance that applies to preparation, compilation, and review engagements. Recall the accountant’s responsibility for going-concern issues, subsequent events, and minimizing fraud-related risk. Recall the requirements of various SSARSs, including SSARS No. 27, SSARS No. 26, SSARS No. 25, SSARS No. 24, SSARS No. 23, and SSARS No. 22. Identify the framework, objectives, and performance and documentation requirements of preparation, compilation, and review engagements. Recognize the effects of a change in level of service from an audit to a review. Recall the reporting guidance for issuing modified conclusions in review engagements. Recognize the different types of special purpose frameworks and common titles used in preparing special purpose framework financial statements. Identify some of the more common peer review findings in compilation and review engagements. Recall basic elements of some recently issued accounting standards. Identify recently issued quality management standards. Recognize current independence and ethics issues. Identify current issues identified by the Accounting and Review Services Committee.
Preparation
None.
Leader(s):
Leader Bios
Michael Brand, Johnson Feigley Newton & Brand LLP
Michael L. Brand joined ARSC during the 2010-2011 committee year, and has been the chair of the ARSC since the 2011-2012 committee year. Mike is a partner in the firm of Johnson, Feigley, Newton & Brand in Athens, AL. He received his B.S. in accounting from the University of North Alabama and has been in the practice of public accounting for over 24 years. During those years he has been involved in all aspects of public accounting, with an emphasis in providing accounting, audit, and review services to clients in for profit, not-for-profit, and governmental sectors. He also teaches continuing education classes across the country and has been awarded the Outstanding Discussion Leader multiple times and has spoken at several conferences nationwide. Additionally, he conducts peer reviews. He is the current chair of the Alabama Society of Certified Public Accountants Peer Review Committee and was formerly on the Peer Review Board, Joint Trial Board, and Quality Control Standards Task Force of the AICPA. Mike currently lives in Athens, AL with his wife and two sons. He is actively involved in the community and enjoys his time outside of the office with his family enjoying outdoor sporting activities, running and cooking.
Non-Member Price $410.00
Member Price $310.00