ADCR
ADVANCED COMPILATION AND REVIEW ENGAGEMENT ISSUES: STRIKING THE RIGHT BALANCE BETWEEN COMPLIANCE, CLIENT SERVICE, AND PRACTICE MANAGEMENT

Practitioners that 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:

  • Navigating the impact of SSARS No. 21
  • Preventing malpractice claims related to accounting services
  • Identifying and safeguarding independence threats for attest services
  • Establishing an understanding with the client regarding non-audit services
  • Defining the varying levels of responsibility for accountants performing non-audit services
  • Performing compilations and reviews effectively and efficiently, including nature and extent of documentation considerations
  • Practice performing analytical review procedures appropriately, 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
  • Applying Statements on Quality Control Standards to non-audit engagements

Learning Objectives:

  • Describe practice management risks associated with non-audit services
  • Properly apply relevant professional standards and regulations for non-audit services
  • Leverage information obtained on engagements to enhance client service

Designed For: Anyone who performs or supervises non-audit engagements
Level of Knowledge: Advanced
Prerequisite: Experience with performing non-audit services
Advanced Preparation: None
Credits: 8