Preparing and Reviewing Financial Statements and General Attest Engagements
December 16th, 2024 - December 16th, 2024 @ 9:00am-12:30pm
| Member Price | $279 |
| Non-Member Price | $190 |
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Credits
4Description
The ultimate objective of a financial statement audit is to issue the independent auditor’s report. Reviews and preparations are different. This course discusses the review and preparation process, introduces key elements of financial statements, and provides best practices for auditors who either prepare or review the client’s financial statements. Most CPA firms perform some level of compilation and review engagements, and some perform engagements under attestation standards. This course provides a deep dive into the most frequently missed issues in compilations and reviews engagements. We will also focus on attestation engagements and the various types of engagements a CPA can perform.Objectives
- Explain the key elements and variations of the auditor’s report
- Understand the appropriate treatment for accounting changes and error corrections
- Discuss the basic financial statements, their key elements, and required disclosures
- Understand the Codification layout and be able to perform research on presentation and disclosure issues that arise
- Use a framework to prepare or review client prepared financial statements
- Identify best practices for financial statement preparation or review of client prepared financial statements
- Recall SSARS basics
- Understand advanced SSARS reporting issues, such as complying with international standards and preparing compilations of pro forma information
- Explain how to avoid peer review deficiencies in compilation and review engagements
- Identify the distinction between different levels of engagements performed in accordance with the attestation standards (examinations, reviews, and agreed-upon procedures)