Comps, Reviews & Preparations-How the Accounting Profession Got it Right 2024

Overview

In the beginning, CPA practitioners offered two types of attest services: audits and unaudited engagements. Auditors had plenty of authoritative guidance for choosing their auditing procedures and issuing reports but minimal guidance on performing and reporting on their unaudited engagements. In a landmark litigation in the 1960s, a CPA practitioner failed to detect an obvious fraud, ultimately leading to the AICPA creating well-defined, positive standards that birthed the Compilation and Review services in 1978.

Highlights

• General Principles applicable to all SSARS engagements
• Compilations
• Reviews
• Preparations

Prerequisites

Experience with compilations or reviews.

Designed For

Partners, managers and accountants looking to expand and update their understanding and knowledge.

Objectives

• Review the evolution of the Compilation and Review standards into its current SSARS 21 format
• Examine the key requirements of Sections 60-90 of SSARS 21 to support its practical application in performing Compilations, Reviews and Preparations

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by the California Education Foundation (CalCPA). Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.