Self-Study

Performing a Review Engagement Part I

This innovative CPE course has been designed to provide a convenient, accessible way for firms to train their staff in this area of practice. With the introduction of SSARS No. 21, Statement on Standards for Accounting and Review Services: Clarification and Recodification, this area of practice will be experiencing a level of change not seen in over 30 years. This CPE course provides fundamental training on the performance standards associated with review engagements. This enhanced learning program combines real-world examples, practice exercises, case studies, and a "learning coach", to create a flexible, engaging learning experience.

Objectives

  • Identify the performance standards for a review engagement.
  • Recognize the minimum documentation requirements for a review engagement.
  • Recall the forms and checklists typically used in a review engagement.
  • Compare the change in level of service from an audit to a review.

Highlights

  • Accepting or continuing a client relationship
  • Establishing an understanding with the client
  • Obtaining knowledge of the industry and client's business
  • Obtaining sufficient appropriate review evidence
  • Different sources of review evidence
  • Reading the financial statements to ensure that they are correct in form and free from obvious error
  • Communicating information with management or those charged with governance
  • Documenting the review engagement using a work program, bridging documents, forms, and checklists
  • Changes in the level of service from audit to review

Additional Information

Designed For

CPA firm staff members that perform review, compilation and financial statement preparation engagements

Vendor

American Institute of CPAs

Field of Study

Auditing

Course Number

17AIS0082

Level of Knowledge

Basic

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