Course ID: SSAR1

Adapting to the Nature of the Engagement – The Varying Requirements of Preparations, Compilations, Reviews, and Audits

A CPA may perform various attest services under relevant professional standards, including compilations, reviews and audits. Reviews and audits 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 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.

Learning Objectives

Upon completion of this course participants will be able to:

  • Explain how to avoid litigation risk in bookkeeping services
  • Explain the basis and requirements for a compilation contrasted with preparing financial statements
  • Discuss special purpose framework and other issues
  • Describe the basis and requirements for a review
  • Explain the basis and fundamental requirements for an audit

Major Topics
  • Compare and contrast the basis and requirements of preparing financial statements, compilation, review, and audit
  • 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
  • Describing various common audit procedures
  • Case study differentiating the scope of various non-attest and attest services
  • Avoiding litigation risks in accounting services

Advanced Preparations


Who Should Attend

Accountants who provide attest services, such as compilations, reviews and audits

Fields of Study



Business Learning Institute

CPE Credits


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