Performing a Compilation Engagement

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 compilation engagements. This enhanced learning program combines real-world examples, practice exercises, case studies, and a "learning coach", to create a flexible, engaging learning experience.


  • Identify the performance requirements for a compilation engagement.
  • Recall the minimum documentation requirements for a compilation engagement.
  • Recognize the forms and checklists typically used in a compilation engagement.
  • Identify the performance requirements for compilation engagements of specified elements, accounts, or items of the financial statements.
  • Recall the performance requirements for compilation engagements of pro forma financial information.
  • Recognize the reporting requirements and modifications for interim financial statements.


  • Accepting or continuing a client relationship
  • Documenting an understanding with the client in an engagement letter
  • Obtaining knowledge of the industry and client's business
  • Reading the financial statements to ensure that they are correct in form and free from obvious error
  • Obtaining additional information in a compilation engagement
  • Documenting the compilation engagement using a work program, bridging documents, forms, and checklists
  • Compilation engagements with respect to elements, accounts, and items of financial statements
  • Compilation of pro forma financial information
  • Revenue and expense recognition rules that apply to interim financial statements
  • Common report modifications for compilation engagements of interim financial statements

Additional Information

Designed For

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


American Institute of CPAs

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