Audit 103: Adapting to the Engagement - Complying with SSARS
2.00 Credits
Member Price $89
Non-Member Price $109
Overview
Adapting to the Engagement - Differentiating the Requirements of Preparations, Compilations, Reviews, and Audits is a critical foundational course. 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. Note: This course is recommended as a part of a 16-hour audit skills curriculum for beginning auditors and attest providers, while it is also appropriate for anyone who has assurance responsibilities under the SSARS. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Highlights
The major topics covered in this course include:
- Compare and contrast the basis and requirements of preparing financial statements, compilations, reviews, and audits
- 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
- Case study differentiating the scope of various non-attest and attest services
- Avoiding litigation risks in accounting services
Prerequisites
None
Designed For
Accountants who provide attest services, such as compilations, reviews and audits
Objectives
Upon completion of this course, you will be able to...
- Recall how to avoid litigation risk in bookkeeping services
- Recall the basis and requirements for a compilation contrasted with preparing financial statements
- Identify special purpose framework and other issues
- Recognize the basis and requirements for a review
- Recall the basis and fundamental requirements for an audit
Preparation
None
Leader(s):
Leader Bios
Jennifer Louis, Business Learning Institute
Jennifer F. Louis, CPA, has more than 18 years of experience in designing and instructing high-quality training programs. In 2003 she formed Emergent Solutions Group, LLC, serving organizations by providing training services on a project-specific or parttime basis.
Most recently, Ms. Louis was executive vice president / director of trainingServices at AuditWatch, Inc., a premier training and consulting firm serving the audit profession. She began her career at AuditWatch as vice president of product development. Before joining AuditWatch, Ms. Louis was the financial/operational audit manager at AARP.
Ms. Louis also was an audit manager for Deloitte & Touche LLP. During her years at Deloitte & Touche’s Washington D.C. office, she was a frequent local and national instructor. She also served as an
instructor for the firm’s national “Train the Trainers” program.
Non-Member Price $109
Member Price $89