Live Stream: Preparing and Reviewing Client-Prepared Financial Statements and General Attest Engagements
330 | Livestream | Intermediate | Scheduled
Description
The ultimate objective of a financial statement audit is to issue the independent auditor's report. Reviews and preparations are different. This course discusses the review and preparation process, introduces key elements of financial statements, and provides best practices for auditors who either prepare or review the client's financial statements. Most CPA firms perform some level of compilation and review engagements, and some perform engagements under attestation standards. This course provides a deep dive into the most frequently missed issues in compilations and reviews engagements. We will also focus on attestation engagements and the various types of engagements a CPA can perform.
Credits
| Number of Credits | Type of Credits |
|---|---|
| 4.00 | Auditing |
Designed For
Accountants who perform compilations, reviews and other attestation engagements
Prerequisites
Understanding of key differences between assurance, attestation and audit engagements
Highlights
- 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
- Understanding 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
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)
Prices
- Member (Early Bird)
- $189.00
- Non-Member (Early Bird)
- $249.00
- Member
- $189.00
- Non-Member
- $249.00
Instructors
Robert W. Wells, CPA, CFE
Robert "Wayne" Wells has 51 years of experience in public accounting and annually instructs numerous continuing education seminars and in-firm training classes for continuing education providers in the areas of accounting, auditing, fraud, and taxation.
Wells began his career in public accounting in 1970 with the national firm of what was then Touché, Ross & Co. in Nashville, Tennessee. In 1974, he joined a local firm in Nashville and provides accounting, auditing, fraud investigations, and tax services to small- and medium-sized businesses as well as extensive tax services to individuals.
Wells graduated from Austin Peay State University in Clarksville, Tennessee in 1970 with a Bachelor of Science degree in accounting and economics. He holds a certified public accountant certificate in Tennessee, and is also a Certified Fraud Examiner. He is a member of the Tennessee Society of Certified Public Accountants, the Association of Certified Fraud Examiners, and the American Institute of Certified Public Accountants. He is a recipient of the Outstanding Discussion Leader Award presented by the Tennessee Society of Certified Public Accountants, the Outstanding Discussion Leader Award presented by the AICPA, and an Outstanding Discussion Leader Award presented by Surgent..
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