Audit 103: Adapting to the Engagement - Complying with SSARS WEBINAR
Overview
A CPA may perform various attest services under relevant professional standards, including compilations, reviews, and audits. Reviews and audits are also considered assurance services, providing either limited or reasonable assurance that financial statements are free of material misstatement. In addition, the CPA may perform non-attest services, such as bookkeeping or preparation of financial statements. CPAs must fully understand the professional responsibilities related to each of these varying levels of services, in order to effectively and efficiently satisfy engagement objectives.
Highlights
Compare and contrast the basis and requirements of preparing financial statements, compilations, reviews, and audits. Critical elements of compilation, review, and audit reports. Impact of special purpose accounting frameworks and other special issues. Exercise on designing inquiries and analytics in a review. Case study differentiating the scope of various non-attest and attest services. Avoiding litigation risks in accounting services.
Prerequisites
None.
Designed For
Accountants who provide attest services, such as compilations, reviews, and audits.
Objectives
Recall how to avoid litigation risk in bookkeeping services. Recall the basis and requirements for a compilation contrasted with preparing financial statements. Identify special purpose framework and other issues. Recognize the basis and requirements for a review. Recall the basis and fundamental requirements for an audit.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Jennifer Louis, Surgent McCoy CPE, LLC
Jennifer F. Louis, CPA has over 25 years of experience in designing and presenting high-quality training programs in a wide variety of technical accounting, auditing, and “soft skills” topics needed for professional and organizational success. She is the principal author of audit and attest related courses for Surgent and a frequent speaker at Surgent live programs and seminars. Ms. Louis is also the president of Emergent Solutions Group, LLC, a company she founded in 2003, dedicated to developing and delivering a wide variety of accounting and auditing training services, including audit staff training, audit productivity improvement, and value-added auditing. Prior to that, she was executive vice president/director of training services at AuditWatch, Inc. Before joining AuditWatch, Ms. Louis was the financial/operational internal audit manager at AARP. While at AARP, she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and training sessions. Ms. Louis was also an audit manager for Deloitte and Touche, LLP. During her years in that firm’s Washington, D.C. office, she served as an instructor for the firm’s national “Train the Trainers” program. Ms. Louis graduated summa cum laude from Marymount University with a BBA in accounting.
Non-Member Price $109.00
Member Price $89.00