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Course Details

How to Conduct a Review Engagement (Course Id 1341)

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Author : Steven Bragg, CPA
Status : Production
CPE Credits : 2.0
IRS Credits : 0
Price : $17.95
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Auditing - Auditing for Course Id 1341

Description :

A review engagement involves a significantly reduced set of activities from an audit engagement, with a focus on analytical procedures and inquiries. In How to Conduct a Review Engagement, 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. This 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 : 08-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 - 1341

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

Course Learning Objectives

  • Recognize the situations in which the accountant cannot accept a review engagement.
  • List the contents of an engagement letter.
  • Cite 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.
  • Cite 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.
Course Contents :

Chapter 1 - How to Conduct a Review Engagement

Engagement Acceptance Issues

Client Acceptance of the Relationship

Engagement Letter

General Understanding of the Client

Analytical Procedures

Comparison to Prior Period Information

Comparison to Nonfinancial Information

Comparison to Expectations

Compare Disaggregated Revenue Information

Use of Analytical Procedures

Considerations Regarding Analytical Procedures


Additional Analyses

Evaluation of Evidence

Going Concern Considerations

Subsequent Events

The Representation Letter

The Accountant’s Review Report

Variations on the Accountant’s Review Report

Special Purpose Framework

Comparative Financial Statements

Emphasis-of-Matter and Related Issues

Known Departures from the Applicable Framework

Restriction of Use Alert

Reference to the Work of Other Accountants

Supplementary Information

Required Supplementary Information

Communications Regarding Fraud and Other Matters

Changing from an Audit to a Review

Documenting the Review Engagement

Review Questions


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