Performing a Compilation Engagement

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2.0 Credits

This innovative CPE course has been designed to provide a convenient, accessible way for firms to train their staff in this area of practice. With the introduction of SSARS No. 21, Statement on Standards for Accounting and Review Services: Clarification and Recodification, this area of practice will be experiencing a level of change not seen in over 30 years. This CPE course provides fundamental training on the performance standards associated with compilation engagements. This enhanced learning program combines real-world examples, practice exercises, case studies, and a "learning coach", to create a flexible, engaging learning experience.


  • Identify the performance requirements for a compilation engagement.
  • Recall the minimum documentation requirements for a compilation engagement.
  • Recognize the forms and checklists typically used in a compilation engagement.
  • Identify the performance requirements for compilation engagements of specified elements, accounts, or items of the financial statements.
  • Recall the performance requirements for compilation engagements of pro forma financial information.
  • Recognize the reporting requirements and modifications for interim financial statements.

Major Topics

  • Accepting or continuing a client relationship
  • Documenting an understanding with the client in an engagement letter
  • Obtaining knowledge of the industry and client's business
  • Reading the financial statements to ensure that they are correct in form and free from obvious error
  • Obtaining additional information in a compilation engagement
  • Documenting the compilation engagement using a work program, bridging documents, forms, and checklists
  • Compilation engagements with respect to elements, accounts, and items of financial statements
  • Compilation of pro forma financial information
  • Revenue and expense recognition rules that apply to interim financial statements
  • Common report modifications for compilation engagements of interim financial statements

Designed For

CPA firm staff members that perform review, compilation and financial statement preparation engagements
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