MCRE
MASTERING THE STANDARDS RELATED TO COMPILATION & REVIEW ENGAGEMENTS

The AICPA recently overhauled professional responsibility, analysis and reporting standards for compilation and review engagements for nonissuers. This includes Statements on Standards for Accounting & Review Services (SSARS) No. 16 and No. 17 that are both fully effective for engagements for periods ending on or after December 15, 2008. The objective of this session is to provide detailed information related to applying SSARS-related standards and interpretations.

Major Topics

• Understand the different objectives of services to which SSARS applies, and the impact on terms of engagement letters
• Define the levels of responsibility for accountants performing compilations and reviews
• Learn to perform compilations and reviews effectively and efficiently, including nature and extent of documentation considerations
• Practice performing analytical procedures appropriately, including developing proper advance expectations
• Properly consider going concern, subsequent events, and other key matters
• Common issues raised in peer reviews, including recurring reporting problems

Level of Knowledge: Basic

Prerequisites: None