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Third Party Verification (Comfort) Requests- What Are Options for Responding and How to Determine Which Professional Standards to Apply?

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Online, OK 00000

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2.00 Credits

Member Price $109

Non-Member Price $139

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Overview

Frequently, third parties may request certain financial and nonfinancial information to be verified by the external accountant (often referred to as ";comfort letters"). This course will provide insight into how to respond to requests for comfort in a way that will minimize professional liability risk. 

Highlights

  • Common third party verification requests
  • Differentiating the allowable options for responding to requests for comfort, including SSARS, SAS and SSAE engagements
  • Critical elements of professional standards that may apply to nonattest and attest services performed
  • Establishing an understanding with the client regarding the nature and scope of services 

Prerequisites

None

Designed For

Anyone who performed nonaudit services

Objectives

  • Describe the various nonattest and attest options available for appropriately responding to third party verification requests
  • Explain how to select the most appropriate type of engagement to meet the client's needs
  • Discuss how to meet the needs of your client and satisfy third parties, without putting your practice at risk 

Preparation

None

Leader(s):

Leader Bios

Jennifer Louis, Business Learning Institute

Jennifer F. Louis, CPA, has more than 18 years of experience in designing and instructing high-quality training programs. In 2003 she formed Emergent Solutions Group, LLC, serving organizations by providing training services on a project-specific or parttime basis.
Most recently, Ms. Louis was executive vice president / director of trainingServices at AuditWatch, Inc., a premier training and consulting firm serving the audit profession. She began her career at AuditWatch as vice president of product development. Before joining AuditWatch, Ms. Louis was the financial/operational audit manager at AARP.
Ms. Louis also was an audit manager for Deloitte & Touche LLP. During her years at Deloitte & Touche’s Washington D.C. office, she was a frequent local and national instructor. She also served as an instructor for the firm’s national “Train the Trainers” program.

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Non-Member Price $139

Member Price $109