- NY Credits : 4.0
- TX Credits : 4.0
Compilation and Review Guide - Preparation
This program provides accountants with guidance on preparation engagements. Although there are fewer authoritative standards for these engagements, they far outnumber the quantity of audits performed each year. The standards and applicable guidance to these engagements is provided in the introductory chapter. The performance of preparation engagements is discussed.
Upon successful completion of this course, the user should be able to:
identify the differences between a preparation, a compilation, and a review engagement,
recognize the applicability of Statements on Standards for Accounting and Review Services (SSARS) to various types of professional services,
identify the differences in objectives and procedures between compilation and review engagements,
recognize the guidance regarding a change in the level of service,
identify the objective and requirements of an engagement to prepare financial statements, and
recognize departures from GAAP and/or omitted disclosures.