Compilations, Reviews & Preparations: Engagement Performance & Annual Update

Compilations, Reviews & Preparations: Engagement Performance & Annual Update

Compilations, Reviews & Preparations: Engagement Performance & Annual Update

Presenter

Kenneth Levine, Retired Partner, BDO USA, LLP

Overview

Specifically designed for preparation, compilation and review practitioners, this course will provide you with a comprehensive review and hands-on application for performing financial statement preparation, compilation and review engagements. You will learn the ins and outs of applying SSARS No. 21, Clarification and Recodification, as well as the additional guidance related to SSARS engagements through the issuance of SSARS Nos. 22-26 by the ARSC. In addition to SSARS 26, the entire suite of quality management standards is discussed. However, knowing the standards is not enough. You need to be able to effectively apply them. To support this, the course will review recent peer review feedback on SSARS engagements, providing insights on how to successfully apply this guidance. Not only will this course bring you up to date on SSARS requirements and guidance but, more importantly, it will provide you with practical examples and illustrations to help you effectively and efficiently perform these types of engagements. This course is intended to be your go-to reference for training your staff and managing your SSARS No. 21-26 services in compliance with professional, ethical and technical requirements.

Learning Objectives:

  • Understand the drivers of fraud risk in a financial statement audit.
  • Conduct procedures required by professional literature to assess the risk of fraud.
  • Develop discussion points to review with management and those charged with governance.
  • Identify the main types of fraud that occur in small to mid-sized companies, and develop internal controls responsive to those risks.
  • Evaluate fraud case examples, and identify how fraud occurred and how it could have been prevented or detected.

Major Topics: 
  • SSARS No. 21, Clarification and Recodification, and updates to SSARS No. 21 due to the issuance of SSARS No. 23, Omnibus Statement on Standards for Accounting and Review Services
  • SSARS No. 22, Compilation of Pro Forma Financial Information
  • SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services - 2018
  • SSARS No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions
  • SSARS No. 26, Quality Management for an Engagement Conducted in Accordance With Statements on Standards for Accounting and Review Services
  • Sample comprehensive engagement work programs for preparation, compilation and review engagements
  • Reporting and disclosure illustrations for each level of service, including attesting on personal financial statements, prescribed form, special purpose framework, and other engagement variations
  • Other communication requirements, such as sample engagement letters and management representation letters
8.0 CPE Credits

Registration

Registration is open through 09/10. Register by 08/10 for Early Bird Pricing.

Member Price

$379 / $329 Early-Bird pricing ends on 08/10/2024.

Nonmember Price

$479 / $429 Early-Bird pricing ends on 08/10/2024.

  • Retired, Part-time, Unemployed and Leave-of-Absence Members save an additional $50

Tuesday, September 10

8:30am to 4:00pm (Check-In 8:00am)

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WICPA Professional Development Center

W233N2080 Ridgeview Pkwy Ste 201
Waukesha, WI 53188

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