Performing Preparation, Compilation and Review Engagements
- Compliance with standards Do you perform preparation, compilation, or review engagements? Staying in compliance with all professional standards surrounding engagements performed in accordance with Statements on Standards for Accounting and Review Services (SSARSs) is essential to your engagements. You'll gain insight into how to perform these engagements in accordance with the relevant guidance. Building a foundation for successful engagements You'll cover several key topics to help you complete preparation, compilation, or review engagements successfully and compliantly. Topics covered include:
- Frameworks, objectives, and general principles
- Standards and guidance
- Documentation
Learning Objectives
- Identify the framework and objectives of preparation engagements and of compilation engagements, and the general principles and objective of review engagements.
- Recall the performance requirements for an engagement to prepare financial statements.
- Recognize the documentation requirements for preparation engagements, compilation engagements, and review engagements.
- Recognize the elements that make up a compilation engagement and the elements that make up a review engagement.
- Distinguish a compilation engagement from a preparation engagement.
- Identify the performance requirements for a compilation engagement and the performance standards for a review engagement.
- Recognize the effects of a change in level of service from an audit to a review.
Major Topics
- Engagement objectives
- Performance requirements and standards
- Documentation
- Differences between compilation and preparation engagements
- Engagement criteria
- Changes in level of service
