Compilation and Review: Something Old and Something New

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Designed For: Professionals in public practice, industry, government, and education who deal with non issuing (nonpublic) entities

Product Code: CR2OL

Category: Accounting and Auditing

Vendor: Florida Institute of CPAs

Format: Online

Price: $39.00 members, $60.00 non-members

Provide the participants with a framework for the performance and reporting on compilation and review engagements using old and new standards. To provide guidance on specific standards for compilations. To provide gudiance on specific standards for reviews. Also, provide connections to selected revised professional compilation and review standards that still apply from earlier years.

  • New compilation and review standards for 2011 and future years, including SSARS 19, Compilation and Review Engagements.
  • Framework for compilation and review engagements in professional standards.
  • New issues about the concept of materiality for compilation and review engagements which includes various definitions: applicable financial reporting framework; assurance engagements; attest engagements; financial statements; management
  • New issues in compilation and review engagements about the objectives and limitations of compilation and review.
  • New issues in professional requirements.
  • Insight into the hierarchy of standards for compilation and review.
  • Discussion about the “elements” of a compilation or review.
  • Discussion about materiality in SSARS 19 relating to compilation and review.
  • Any other matters deemed appropriate and timely

Description: Learn about the standards from past years and how they inrtwine with the new 2011 and 2012 compilation and review professional standards, which represent the most significant changes to compilation and review services in over 30 years. Review pertinant, specially selected standards from earlier years. Related other standards will be explored as well.