Preparation, Compilation, and Review Engagements: Update and Review
4.00 Credits
Member Price $225
Non-Member Price $269
Overview
By reviewing the latest developments and issues relevant to preparation, compilation and review engagements, you’ll be able to adhere to professional standards while performing these types of engagements.
Highlights
Prerequisites
Experience with engagements performed in accordance with SSARS.
Designed For
CPA firm seniors (and above) managing engagements performed in accordance with SSARS.
Objectives
- Identify the key economic factors that may affect clients and their financial statements.
- Recall the accountant's responsibility for going concern issues, subsequent events, fraud, and recommendations for minimizing fraud-related risk.
- Recall the requirements and resources applicable to the performance of SSARSs engagements.
- Identify some of the more common peer review findings in compilation and review engagements.
- Recall basic elements of some recently issued accounting standards and current and future FASB projects.
- Recognize the Financial Reporting Framework for Small
- and Medium-Size Entities (FRF for SMEsT) as an alternative to other special purpose frameworks and to accounting principles generally accepted in the United States.
- Identify recently issued quality management standards, the fundamentals of QC section 10,
- A Firm's System of Quality Control
- , and current independence and ethics issues.
- Identify current issues identified by the Accounting and Review Services Committee.
Leader(s):
Leader Bios
Daryl Krause
Daryl G. Krause, CPA, has CPA Certifications and he practices in: Illinois, Indiana, Kentucky, Michigan, Ohio and Wisconsin as Manager & CEO of his CPA firm, which he founded in 2005. Previously he enjoyed 23 years of diversified responsibilities with Ernst & Young. Industries he served included manufacturing, construction, real estate and financial services. Daryl has led more than 100 courses for the AICPA in 27 states and the District of Columbia. He also performs technical reviews during the development of certain AICPA courses.
Daryl was the Ohio Valley Area Director of Employee Benefit Plan Services specialty audit practice for 8 years responsible for the technical accuracy and quality of over 300,000 hours of employee benefit plan audit effort. Roles included sign-off partner for approximately one third of the entire area’s engagements, independent reviewer on approximately 100 additional plans per year and technical advisor for all work.
As Senior Manager in the Entrepreneurial Services group for 3 years he managed a portfolio of corporate audit client relationships. Roles included providing SEC reporting assistance to new public companies, assisting in due diligence on potential acquisitions and helping companies improve their controls and financial reporting processes.
He served in E&Y’s National Professional Development group as a Senior Manager for 5 years. Roles included designing, developing and delivering core curriculum Audit and Entrepreneurial Services training programs for the entire U.S. practice. Part of the 11 member team that completed the development effort to introduce the Ernst & Young Audit Approach training for Staff through Partner following the Ernst & Whinney and Arthur Young merger, which was deemed a critical success factor for the newly formed Ernst & Young.
Non-Member Price $269
Member Price $225