Compilations, Reviews & Preparations: Engagement Performance

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.

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

Learning Objectives

Understand, apply SSARS No. 21, Clarification and Recodification
Be familiar with changes due to the issuance of SSARS Nos. 22-26
Be familiar with compilation and review program examples and disclosure illustrations
Identify and apply compilation, preparation, and review procedures
Be aware of the most recent compilation and review reports and other communications
Utilize hands-on examples and illustrations to increase your overall understanding and application of the material

Designed for

Accounting practitioners and their staff performing and managing compilation, preparation, and review engagement services

Fees

Credits

Level

Code

Vendor

Leader(s):

Michael Brand

Leader Bios

Michael Brand

Michael L. Brand, CPA, CGMA, was the chair of the ARSC from 2011 through 2015 during the time the SSARS 21 clarity project was underway. Mike is currently a partner in the firm of BMSS, LLC. He has been in the practice of public accounting for over 30 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, for which he has received the AICPA and ASCPA Outstanding Discussion Leader Award multiple times; and has spoken at several conferences nationwide and overseas. Additionally, he conducts peer reviews. Mike is the current chair of the ASCPA Board of Directors; co-chair of the AICPA’s ENGAGE conference; and current chair of the steering committee for National Advanced Accounting and Auditing Technical Symposium at ENGAGE. He also serves on the Accounting Advisory Council for the University of North Alabama. Previously, he was on the Professional Ethics Executive Committee, Peer Review Board, Joint Trial Board, and Quality Control Standards Task Force of the AICPA. Mike received his B.S. in accounting from the University of North Alabama.

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