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Course Details

How to Conduct a Compilation Engagement (Course Id 1343)

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Author : Steven Bragg, CPA
Status : Production
CPE Credits : 1.0
IRS Credits : 0
Price : $12.95
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Auditing - Auditing for Course Id 1343

Description :

A compilation engagement involves a greatly reduced set of activities from a review engagement, and especially from an audit. In How to Conduct a Compilation Engagement, we describe the steps required to complete a compilation, as well as every other aspect of a compilation engagement, including the engagement letter and the compilation report. The course also includes the requirements for an engagement in which the accountant is called upon to prepare financial statements for a client. This How to Conduct a Compilation Engagment CPE course is based on SSARS 21, Statements on Standards for Accounting and Review Services: Clarification and Recodification.

Usage Rank : 0
Release : 2018
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 14-Mar-2018
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - 1343

Keywords : Auditing, How, Conduct, Compilation, Engagement, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

  • State the responsibilities of the accountant in a compilation engagement.
  • List the steps usually taken during a compilation engagement.
  • Cite the reasons why an accountant may withdraw from a compilation engagement.
  • Describe the contents of the documentation assembled following a compilation engagement.
  • State the responsibilities of the accountant who has been engaged to prepare financial statements.

Chapter 1
How to Conduct a Compilation Engagement

  • State the responsibilities of the accountant in a compilation engagement.
  • List the steps usually taken during a compilation engagement.
  • Cite the reasons why an accountant may withdraw from a compilation engagement.
  • Describe the contents of the documentation assembled following a compilation engagement.

    Chapter 2
    Preparation of Financial Statements

  • State the responsibilities of the accountant who has been engaged to prepare financial statements.
  • Course Contents :

    Chapter 1 - How to Conduct a Compilation Engagement

    The Nature of a Compilation Engagement

    Independence

    Management Responsibilities

    The Engagement Letter

    Accountant Responsibilities

    The Compilation Report

    The Compilation Report when a Special Purpose Framework is Used

    The Compilation Report When the Accountant is Not Independent

    The Compilation Report When Disclosures Have Been Omitted

    The Compilation Report When There Are Known Framework Departures

    The Compilation Report with Supplementary Information

    The Compilation Report with Required Supplementary Information

    Documentation Requirements

    Review Questions

    Chapter 2 - Preparation of Financial Statements

    The Preparation Engagement

    Financial Statement Preparation

    Documentation of the Preparation Engagement

    Review Questions

    Glossary

    CPE Auditing Course: https://www.cpethink.com/auditing-cpa-courses
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