Description
Included in Preparation, Compilation, and Review Staff Essentials, this CPE course provides fundamental training on the general principles and objective of an engagement to prepare financial statements as well as the performance standards associated with engagements to prepare financial statements.
Designed For
- CPA firm attest staff, including paraprofessionals new to performing SSARSs engagements
Objectives
- Identify the types of engagements that require a report on the financial statements.
- Distinguish between an engagement to prepare financial statements and a compilation of financial statements.
- Identify the framework and objectives of engagements to prepare financial statements.
- Distinguish between preparing financial statements and assisting in the preparation of financial statements.
- Recall the performance requirements for an engagement to prepare financial statements.
- Recognize the minimum documentation requirements for an engagement to prepare financial statements.
- Recall the independence considerations when performing a nonattest service for an attest client.
- Recognize the elements of a quality control system.
- Identify the circumstances in which engagements to prepare financial statements would be subject to peer review.
Highlights
- Reporting on Financial Statements
- Evolution of Engagements to Prepare Financial Statements
- Hierarchy of Preparation Standards and Guidance
- Objective and Scope of Preparation Engagements
- Acceptance and Continuance of Client Relationships
- Performance Requirements
- Documentation for Engagements to Prepare Financial Statements
- Independence and Ethics
- Quality Control in Engagements to Prepare Financial Statements
- Peer Review