How to Conduct a Review Engagement ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
A review engagement involves a significantly reduced set of activities from an audit engagement, with a focus on analytical procedures and inquiries. In this course, we describe the nature of these analytical procedures and inquiries, as well as every other aspect of a review engagement, including the engagement letter, representation letter, and accountant’s review report.
Highlights
Conducting Review Engagement. Analytical Procedures. Variations of the Accountant’s Review Report.
Prerequisites
None.
Designed For
CPAs, controllers, accountants, financing professionals, business owners, and managers.
Objectives
Recognize the situations in which the accountant cannot accept a review engagement. List the contents of an engagement letter. Identify the reasons why the accountant needs an adequate knowledge of the client’s business. Describe the different types of analytical procedures that can be used as part of a review engagement. List the different types of inquires that an accountant would make as part of a review engagement. Describe the decision criteria for judging whether an uncorrected misstatement is material. Recognize the types of evidence indicating that a client may not be able to continue as a going concern. Recognize the available methods for keeping a review report from being used in the future by a client. Identify the contents of a representation letter. Recognize how the accountant handles a client request to use financial statements prepared in accordance with a special purpose framework.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $67.00
Member Price $58.00