Course ID: AAUSE

Accounting & Auditing Update and SSARS Engagements

This course includes an update on accounting, auditing, review, compilation, and preparation issues in the CPA profession.

This program reviews new FASB ASUs, new SAS requirements, new SSARS requirements, new Attestation Standards, and potential future changes for Information Technology impacts. An insight into the new and revised AICPA Code of Professional Conduct with its changes for those in public accounting and updates in the accounting profession. New standards for preparation, compilation, review, and audit engagements are examined for current and future application. This information includes recently issued ASUs, SASs, SSARSs, and SSAEs up to the date of the course.

If you perform a good amount of compilations, reviews and financial statement preparation engagements as part of your attest practice, then this seminar is right for you! Our compilation, review and financial statement preparation overview training session will give you and your professional staff everything you need to perform these engagements efficiently and effectively. We will address all current regulations relevant to SSARS No. 21-25 as well as the latest best practices that will help you streamline the performance of these engagements.


Learning Objectives
  • Recognize and apply the latest ASUs issued in 2019 and 2020
  • Identify the new and revised AICPA Professional Standards and Code of Professional Conduct
  • Recognize and apply the latest SASs issued in 2019 and 2020
  • Identify the new and revised AICPA SSARS Standards
    • The objective of this course is to assist you in the appropriate performance of compilation, review and financial statement preparation engagements
    • The reporting requirements associated with compilation and review engagements
    • The appropriate requirements in providing preparation of financial statements services

Major Topics
  • The impact of COVID-19
  • New ASUs issued from the FASB with special view to COVID-19
  • Audit issues for “Going Concern” situations from the FASB and the ASB because of the pandemic
  • Professional standards that involve new preparation, compilation, review, attestation, and audit standards for 2021 and future years
  • The impact and changes of the revised AICPA Code of Professional Conduct
  • Ethics Interpretation 1.295 regarding independence and documentation will be explored for revisions and updates in attest/nonattest applications specifically dealing with nonattest services for attest clients
  • The future of accounting and information technology
    • Compilation, review and financial statement preparation engagements – introduction
    • Performing compilation, review and financial statement preparation engagements
    • Reporting on compilation, review and financial statement preparation engagements, including sample reports
    • Recently issued SSARSs

Advanced Preparations

None


Who Should Attend

CPAs and accountants in public practice


Fields of Study
Auditing

Prerequisites

Fundamental knowledge of U.S. GAAP, U.S. GAAS, SSARS requirements and the AICPA’s Code of Professional Conduct.


Provider
Business Learning Institute

CPE Credits
4.0

Level
Intermediate

This course is available for your group as:

 

Let's Roll!

To learn more or customize this course for your group, complete this form and a BLI team member will get back with you shortly.


Or, contact BLI: 888-481-3500 or team@blionline.org
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