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
Learning 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)
Major Topics
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