Course ID: FCRE

Engagement Essentials: Preparation, Compilation, and Review of Financial Statements

This course covers the fundamentals you need to know to perform preparation, compilation, and review engagements. You will learn what distinguishes a preparation, compilation, and review engagement from a traditional audit. Then, after an overview of current Statements on Standards for Accounting and Review Services, you will walk through the steps of these engagements and work through practice questions and case studies to increase concept comprehension and retention.


LEARNING OBJECTIVES
  • Identify the performance requirements associated with these engagements.
  • Recall the standard compilation and review reports, as well as common modifications to the accountant’s report.
  • Recognize the documentation requirements associated with these engagements.

MAJOR TOPICS
  • Preparation, compilation, and review engagement fundamentals
  • Performance requirements for preparation, compilation, and review engagements, including compilation of prospective financial information and pro forma financial information
  • Special purpose and other accounting frameworks
  • Illustrative compilation and review reports
  • Inquiry and analytical procedures
  • Latest developments

DESIGNED FOR
CPA firm attest staff, including paraprofessionals, who are new to performing compilation or review engagements or CPAs requiring a refresher on compilation or review engagements

FIELD OF STUDY
Auditing

PREREQUISITES
None

COURSE PRODUCER
AICPA

CPE CREDITS
8.0

LEVEL
Basic

This course is available for your group as:

Group Internet Based: Webcast Group Live Webcast
 

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