2018 Practice Issues — Compilation and Review Update Module II
Author: Steven C. Fustolo, CPA
The objective of this course is to inform the reader of the various changes made to the compilation and review standards by the AICPA’s Accounting and Review Services Committee (ARSC), and to address practice issues related to compilation and review engagements.
With this eight-hour course you will:
- Get a 74-page PDF manual
- Identify factors that may or may not suggest there is a potential going concern problem in a compilation or review engagement
- Identify a prescribed form and the options for reporting on personal financial statements
- Recognize some of the recurring deficiencies noted in peer reviews
- Identify examples of simpler reporting options to full GAAP financial statements
- Identify provisions to incorporate into engagement letters to protect the accountant against liability claims
- Recognize the general rules to maintain independence when an accountant performs nonattest services for an attest client
- Identify when independence is impaired in certain situations in which an accountant performs non-attest services for an attest client
- Recognize the privity standard as it relates to the accountant’s liability to third parties
Course level: Overview
General understanding of U.S. GAAP is required.
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Spidell Publishing, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have the final authority on the acceptance of individual course for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. This self-study is designed to meet the requirements for 8 hours of continuing education for the California Board of Accountancy. Level: Overview. Field of Study: Auditing. Delivery Method: Self-Study. For more information regarding administrative policies, such as complaints or refunds, contact Spidell Publishing at (714) 776-7850. Prerequisite: General understanding of U.S. GAAP.