SSARS 21 significantly changed the way CPA services are being offered. There is still confusion CPA responsibilities and procedures. The course will discuss differences between bookkeeping, preparation and compilation engagements and how they differ. It will also discuss financial statement frameworks and how they influence the engagement as well as analytical procedures in review engagements
Learning Objectives
• To understand management’s responsibilities in preparing financial statements
• To understand the practitioner’s responsibilities in performing SSARS services
• To learn about the new Quality Management Standards
• To be able to distinguish between GAAP and special purpose frameworks
• To understand the need for engagement letters in distinguishing the services offered
• To learn how to approach analytical procedures in a review engagement
Major Topics
• All recently issued SSARS standards
• Financial reporting frameworks
• Distinguishing special purpose frameworks from GAAP
• CPAs reporting on financial statements
• Financial statement disclosures
• Recently issued ethics standards
• Peer Review Deficiencies
