Specifically designed for preparation, compilation, and review practitioners andtheir staff, this course will provide you with a comprehensive review and hands-onapplication for performing financial statement preparation, compilation, andreview engagements. You will learn the ins and outs of SSARS No. 21, Clarificationand Re-codification. The course will also cover the changes that have occurredwith the issuance of SSARS Nos. 22 and 23 with regard to compilation of proforma financial information engagements, engagements on prospective financialinformation, as well as in other areas relevant to SSARS No. 21 engagements.Also, the course will perform a detailed review of the key provisions of the recentlyissued SSARS No. 24, Omnibus Statement on Standards for Accounting andReview Services - 2018. Lastly, we will review proposed changes to the SSARS inorder to conform the guidance to international standards.
Major Topics:• SSARS No. 21, Clarification and Re-codification, and updates to SSARS No. 21due to the issuance of SSARS No. 23, Omnibus Statement on Standards forAccounting and Review Services• SSARS No. 22, Compilation of Pro Forma Financial Information• SSARS No. 24, Omnibus Statement on Standards for Accounting and ReviewServices - 2018• Proposed changes to the SSARS• Sample comprehensive engagement work programs for preparation,compilation and review engagements• Reporting and disclosure illustrations for each level of service, includingattesting on personal financial statements, prescribed form, special purposeframework and other engagement variations• Other communication requirements, such as sample engagement lettersand management representation letters
Learning Objectives:• Understand, apply SSARS No. 21, Clarification and Re-codification• Be familiar with changes due to the issuance of SSARS Nos. 22, 23 and 24• Be familiar with compilation and review program examples and disclosureillustrations• Identify and apply compilation, preparation, and review procedures• Be aware of the most recent compilation and review reports and othercommunications• Utilize hands-on examples and illustrations to increase your overallunderstanding and application of the material and SSARS guidance• Be aware of other important guidance affecting small and medium-sizedbusiness practitioners