Live Stream: Preparing and Reviewing Client Prepared Financial Statements and General Attest Engagements
156 | Livestream | Intermediate | Scheduled
Description
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.
Credits
| Number of Credits | Type of Credits |
|---|---|
| 4.00 | Auditing |
Designed For
Accountants who perform compilations, reviews and other attestation engagements
Prerequisites
Understanding of key differences between assurance, attestation and audit engagements
Highlights
- Objective of financial reporting
- Interrelationships of financial statements and disclosures
- Accounting changes
- Financial statement preparation and review process
- Best practices for financial statement preparation and review
- Frequently missed issues in compilation and review engagements as noted by peer reviewers
- Understand how to comply with AR-C 100 on International Standards and AR-C 120, Compilations of Pro forma Information
- Introduction to attestation standards (AT)
- Performing attestation examination engagements
- Performing attestation review engagements
- Performing agreed-upon procedures
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)
Prices
- Member (Early Bird)
- $179.00
- Non-Member (Early Bird)
- $229.00
- Member
- $179.00
- Non-Member
- $229.00
Instructors
Kenneth Levine
Ken spent his 40+-year career in public accounting, including the last five years as an Assurance Partner with BDO USA, LLP, following the merger of SS&G, Inc., a large regional firm, with BDO in 2015. Prior to joining SS&G, Inc. in 2001, Ken was a partner with a large local firm and a Senior Manager with Ernst & Young. Ken’s experience includes providing assurance, tax, and business consulting services to privately owned businesses. His industry experience includes manufacturing and distribution; technology-based businesses; service businesses; private equity and venture capital funds; and audits of employee benefit plans, including plans requiring SEC Form 11-K filings. Ken is a magna cum laude graduate of Miami (Ohio) University with a BS in Business and a major in Accountancy. Ken passed the May 1978 CPA exam with the highest score in the State of Ohio and one of the top 50 scores in the United States. Ken is also a board member and treasurer of several not-for-profit organizations.
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