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Practical Approaches to Performing Efficient & Effective SSARS Engagements (Compilation and Review)

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Before starting this self study program, please go through the instructional document.

Overview

  • SSARS Background & History
    10 mins
  • SSARS –Applying the Standards
    25 mins
  • AICPA Code of Professional Conduct
    47 mins
  • THE QUALITY CONTROL STANDARDS
    53 mins
  • ENGAGEMENTS PERFORMED IN ACCORDANCE WITH SSARS
    62 mins
  • Performing the Compilation Engagement
    76 mins
  • Performing the Review Engagement
    97 mins
  • Improving the Efficiency of Engagements Performed in Accordance with SSARS
    103 mins

Course Description

SSARS 21 changed the landscape for CPAs associated with the unaudited financial statements of nonpublic entities.  The accountant may no longer prepare a client’s financial statements or footnotes without affecting independence.  In addition, there is as new alternative, the SSARS preparation engagement.  Unfortunately, many accountants are not certain when they should perform a compilation, a preparation, or perform bookkeeping services.  In addition, many CPAs are not aware of the ethical implications of preparing financial statements in anticipation of a compilation, review, or audit.

This course will provide an overview of SSARS, including recent amendments.  It will differentiate between the compilation and the preparation, between the preparation and a bookkeeping engagement, and how to preserve independence when called for.  Attendees will also receive practical suggestions to improve the efficiency of their SSARS engagements without reducing effectiveness or sacrificing quality.

Learning Objectives

  • Understand the alternative engagements that may be entered when associated with financial statements of a nonpublic entity.
  • Be able to determine when it is best to perform a preparation engagement in accordance with SSARS or a bookkeeping engagement.
  • Understand all requirements of standards for performing engagements subject to SSARS.
  • Make certain documentation for SSARS engagements is adequate.
  • Identify circumstances calling for modified compilation and review reports.

Who Should Attend?

  • Accountant
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Testimonial

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