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)
Prerequisite
Understanding of key differences between assurance, attestation, and audit engagements
