Preparation and Compilation Engagements Under the SSARS (PCE4)
4.00 Credits
Member Price $175
Non-Member Price $225
Overview
Be the go-to person on financial statement compilation and preparation engagements. Specifically designed for those performing preparation and compilation engagements, this course will provide you with a hands-on application for performing preparation and compilation engagements under AR-C Section 70 and 80, respectively. You will learn the ins and outs of relevant sections of the SSARS related to preparation and compilation engagements with a focus on how recently issued updates to SSARS No. 21 impact these engagements. More importantly, you will be provided practical examples and illustrations to help you effectively and efficiently perform those engagements, including a detailed discussion of the reporting requirements under AR-C 80 related to compilation engagement. Lastly, the course will review recent peer review feedback on these types of engagements, highlighting areas where you can improve engagement quality.
Highlights
- Relevant sections of SSARS No. 21, Clarification and Recodification
- SSARS No. 21, Clarification and Recodification, and updates to SSARS No. 21 due to the issuance of SSARS No. 23, Omnibus Statement on Standards for Accounting and Review Services
- SSARS No. 22, Compilation of Pro Forma Financial Information
- SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services - 2018
- SSARS No. 26, Quality Management for an Engagement Conducted in Accordance With Statements on Standards for Accounting and Review Services
- Proposed changes to the SSARS guidance
- Comprehensive sample engagement work programs for preparation and compilation engagements
- Prescribed form, specified line item, pro forma, and other engagement variations
- Complete illustrations of relevant engagement letters, reporting and other required communications for preparation and compilation engagements
Prerequisites
Experience in performing and managing preparation and compilation engagements
Designed For
Accounting practitioners and their staff performing and managing preparation and compilation engagement services
Objectives
- Understand and apply relevant sections of SSARS No. 21, Clarification and Recodification
- Be familiar with guidance impacting preparation and compilation engagements which is contained in SSARS Nos. 22, 23, 24, and 26
- Be familiar with preparation and compilation work program examples
- Be aware of the most recent reports and other required communications
- Keep abreast of relevant ARSC agenda items and projects
- Utilize hands-on examples and illustrations to increase your overall understanding and application of the material
Leader(s):
Leader Bios
Daryl Krause
Daryl G. Krause, CPA, has CPA Certifications and he practices in: Illinois, Indiana, Kentucky, Michigan, Ohio and Wisconsin as Manager & CEO of his CPA firm, which he founded in 2005. Previously he enjoyed 23 years of diversified responsibilities with Ernst & Young. Industries he served included manufacturing, construction, real estate and financial services. Daryl has led more than 100 courses for the AICPA in 27 states and the District of Columbia. He also performs technical reviews during the development of certain AICPA courses.
Daryl was the Ohio Valley Area Director of Employee Benefit Plan Services specialty audit practice for 8 years responsible for the technical accuracy and quality of over 300,000 hours of employee benefit plan audit effort. Roles included sign-off partner for approximately one third of the entire area’s engagements, independent reviewer on approximately 100 additional plans per year and technical advisor for all work.
As Senior Manager in the Entrepreneurial Services group for 3 years he managed a portfolio of corporate audit client relationships. Roles included providing SEC reporting assistance to new public companies, assisting in due diligence on potential acquisitions and helping companies improve their controls and financial reporting processes.
He served in E&Y’s National Professional Development group as a Senior Manager for 5 years. Roles included designing, developing and delivering core curriculum Audit and Entrepreneurial Services training programs for the entire U.S. practice. Part of the 11 member team that completed the development effort to introduce the Ernst & Young Audit Approach training for Staff through Partner following the Ernst & Whinney and Arthur Young merger, which was deemed a critical success factor for the newly formed Ernst & Young.
Non-Member Price $225
Member Price $175