Advanced Update for Compilation, Review and Accounting Services

• Chapter 1 - Current Engagement Environment
  • Learning Objectives
  • Introduction
  • Resources
  • Standards for Compilation and Review Engagements
  • Overview of Guidance on Compilation Engagements
    • Financial Statement Compilations for Financial Statements
    • Performance Requirements
    • Standard Compilation Reports
    • Common Modifications to Compilation Reports
    • Compilations of Specified Accounts, Elements, or Items of Financial Statements
    • Compilations of Pro Forma Financial Information
  • Overview of Guidance on Review Engagements
    • Performance Requirements
    • Standard Review Report
    • Common Modifications to Review Reports
  • The U.S. Business Environment
    • Small Business Confidence
  • Summary
• Chapter 2 - Recent SSARS Developments
  • Learning Objectives
  • Introduction
  • Resources
  • New Standards
    • SSARS No. 15 - Elimination of References to SAS
    • AR Section 20 (SSARS No. 16) - Defining Professional Requirements in Statements on Standards for Accounting and Review Services
    • Omnibus SSARS
  • Interpretation No. 28
    • Incomplete Presentations that are Otherwise in Conformity with GAAP or OCBOA
    • Basis of Accounting Is Not in Conformity with GAAP or OCBOA
  • Interpretation No. 29
    • Modification of Report upon Evidence of Going Concern
    • Modification of Report Based upon Material Uncertainty
    • Uncertainties When Substantially All Disclosures Are Omitted
  • Independence in Compilation Engagements
    • Should Independence be Required?
    • Disclosing the Reason for Independence Impairment
  • Summary
  • Question 1
  • Question 2
• Chapter 3 - Current Practice Issues
  • Learning Objectives
  • Introduction
  • Resources
  • Bookkeeping Engagements
  • SQCS No. 7 (Codified as QC Section 10) - A Firm's System of Quality Control
    • Overview
    • Engagement Quality Control Review
    • Degree of Responsibility Imposed
    • Documentation and Communication
    • Elements of a System of Quality Control
  • Summary
  • Questions
• Chapter 4 - Current Accounting and Reporting Issues
  • Learning Objectives
  • Introduction
  • Resources
  • Common Deficiencies in Peer Reviews
    • Financial Reporting
    • SSARS Procedures and Documentation
  • New Accounting Guidelines
    • FASB Statement No. 157
    • FASB Statement No. 159
    • FASB Interpretation No. 48
  • Summary
  • Questions
• Chapter 5 - On the Horizon
  • Learning Objectives
  • Introduction
  • Resources
  • SSARS Pipeline
    • The ARSC Clarity Project
    • Potential Recodification of SSARS
    • Harmonization with International Standards
    • OCBOA Accounting Guidance
  • FASB Pipeline
    • Business Combinations
    • Fair Value
    • Derivative Disclosures
    • Transfers of Financial Assets
    • Codification and Retrieval Project
    • GAAP Hierarchy
  • Summary
• Chapter 6 - Ethics Focus: Accounting and Auditing
  • Ethics Overview
  • Recent Developments
  • Spotlight on Independence
  • Key Ethical Dilemmas
  • Addressing Ethical Dilemmas
  • Available Resources
• Chapter 7 - Latest Developments
• Appendix A - SSARS 17, Omnibus Statement on Standards for Accounting and Review Services - 2008
• Appendix B - Codification of Statements on Standards for Accounting and Review Services as of February 2008
• Appendix C - Accounting and Review Exhibits
• Appendix D - Accounting and Review Appendixes
• Appendix E - Accounting and Review Topical Index
• Appendix F - Technical Inquiries: Compilation and Review Engagements as of February 2008
• Appendix G - AICPA Compilation and Review Alert - 2007/08
• Appendix H - QC Section - Statements on Quality Control Standards

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