ADC4
ADVANCED COMPILATION AND REVIEW ENGAGEMENT ISSUES

Practitioners who provide non-audit services must strike the right balance between complying with relevant professional and regulatory standards, providing value-added client service, and mitigating litigation and other practice management risks. This course contains many case studies to reinforce best practices for managing the accounting, reporting, and performance issues associated with compilation, review, and accounting service engagements.

Major Topics:

  • Complete coverage of the new SSARS No. 21 related to Preparation of Financial Statements, Compilations and Reviews
  • Identifying and safeguarding independence threats for attest services
  • Defining the varying levels of responsibility for accountants providing non-audit services
  • Performing compilations and reviews effectively and efficiently, including developing proper advance expectations
  • Properly considering going concern, subsequent events, and other disclosure matters
  • Common issues related to peer reviews, including recurring reporting problems

Learning Objectives:

  • Describe practice management risks associated with non-audit services
  • Properly apply relevant professional standards with regulations for non-audit services
  • Avoid peer review and litigation risks

Designed For: Anyone who supervises non-audit engagements
Level of Knowledge: Advanced
Prerequisite: Experience with performing non-audit services
Advanced Preparation: None
Credits: 4