Overview
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Best Practices for Nonattest Services
2 mins
-
Accounting Workpaper Documentation - Best Practices
14 mins
-
Preparation of F/S - Minimum Requirements
33 mins
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Basis of a Compilation
49 mins
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Known Departures Pre - SSARS No.25
67 mins
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Exercise - Scope of Services
90 mins
Course Description
A CPA may engage with clients for
various attest and nonattest services. However, it is required to know that
there are standards for each of the services. If these standards are not met,
each of these services also carries the risk of litigation. Therefore it is
required for the CPAs to make required preparations for all types of
engagement.
A CPA may perform various attest
services under relevant professional standards, including compilations, reviews,
and audits. Reviews and audits
engagement are also considered assurance services, providing either limited
or reasonable assurance that financial statements are free of material
misstatement. In addition, the CPA may perform non-attest services, such as
bookkeeping or the preparation of financial statements.
CPAs must fully understand the
professional responsibilities related to each of these varying levels of
services, in order to effectively and efficiently
satisfy engagement objectives. It is also clear that with increased
services from bookkeeping and write-up to compilation, review, and audit – the
requirements, preparation, and risk changes. The webinar will also discuss the most
common issues faced during all types of engagements. We will also discuss special
purpose frameworks and other related issues for various engagements. At last,
the speaker will discuss the best practices for all
types of engagements.
The following are the Major Topics discussed during the
webinar:
- Compare the basis and requirements of preparing financial statements, compilations, reviews, and audits
- Contrast the basis and requirements of preparing financial statements, compilations, reviews, and audits
- Critical elements of compilation, review, and audit reports
- Impact of special-purpose accounting frameworks and other special issues
- Exercise on designing inquiries and analytics in a review
- Case study differentiating the scope of various non-attest and attest services
- Avoiding litigation risks in accounting services
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Learning Objectives
- To explore and explain how to avoid litigation risk in bookkeeping services.
- To explore and explain the basis and requirements for a compilation contrasted with preparing financial statements.
- To discover and discuss special purpose frameworks and other issues.
- To discover and describe the basis and requirements for a review.
- To explore and explain the basis and fundamental requirements for an audit.
Recommended For
- Accountants who provide attest services, such as compilations, reviews, and audits.
- This Online Webinar on Auditing is recommended for CPA, CMA, CFE, CIA, CRMA, and Other Professionals who desire to support their clients with adaptive engagement services that covers its requirements and mitigates the risk areas
Who Should Attend?
- Accountant
- Accounting Firm
- Accounting Managers
- CPA (Industry)
- CPA - Mid Size Firm
- CPA - Small Firm
- Entrepreneurial CPA
- Senior Accountant
- Staff of Accounting Firm
- Young CPA
