Introduction to Compilation Engagements WEBCAST
Overview
Compilation engagements are often the first financial statement service that accounting professionals learn to perform. This introductory course provides a clear, easy-to-understand foundation for conducting compilation engagements under SSARS. Participants will learn what a compilation is, when it is used, the responsibilities of management and the accountant, and the essential elements of a standard compilation report. Through straightforward explanations and practical examples, the course helps new practitioners gain confidence in preparing financial statements without providing assurance.
Highlights
Compilation engagement requirements under SSARS, AR-C Section 80. Roles and responsibilities of management and the accountant. Reporting considerations, including special purpose frameworks and report modifications. Compiling pro forma and prospective financial information. Best practices for engagement letters, documentation, and avoiding peer review issues.
Prerequisites
None.
Designed For
CPAs, public accountants, and accounting professionals who perform or supervise compilation engagements.
Objectives
Describe the performance and documentation requirements for compilation engagements in accordance with SSARS, including procedures related to engagement acceptance, client understanding, and report preparation. Identify situations that require modifications to a standard compilation report, including the effects of omitted disclosures, special purpose frameworks, and known departures from the financial reporting framework.
Preparation
None.
Leader(s):
Leader Bios
Robert Wells, Coomer-Wells & Co PC
Robert “Wayne” Wells has over 40 years of experience in public accounting and annually instructs numerous continuing education seminars and in-firm training classes for continuing education providers in the areas of accounting, auditing, fraud, and taxation. Wells began his career in public accounting in 1970 with the national firm of what was then Touché, Ross & Co. in Nashville, Tennessee. In 1974, he joined a local firm in Nashville and provides accounting, auditing, fraud investigations, and tax services to small- and medium-sized businesses as well as extensive tax services to individuals. Wells graduated from Austin Peay State University in Clarksville, Tennessee in 1970 with a Bachelor of Science degree in Accounting and Economics. He holds a Certified Public Accountant certificate in Tennessee, and is also a Certified Fraud Examiner. He is a member of the Tennessee Society of Certified Public Accountants, the Tennessee Association of Accountants, and the Association of Certified Fraud Examiners.
Non-Member Price $120.00
Member Price $105.00