The AICPA Accounting and Review Services Committee's SSARS 21, Statements on Standards for Accounting and Review Services: Clarification and Recodification, supersedes all previously issued compilation and review standards. The various procedural changes effected by this far-reaching standard, many of which have been misunderstood by practitioners, include revised reports and a new level of service.
This course provides much needed background and context for the changes included in SSARS 21. The new 'preparation” level of service is described in a way that its applicability becomes clear. Instructor Tom Noce provides a comprehensive explanation of the completely revised compilation reporting requirements as well as the expanded procedural requirements for reviewing financial statements.
This course is a must for all practitioners providing services in these areas.
Upon successful completion of this course, participants will be able to:
- To recognize the significant changes resulting from the issuance of the clarified standard
- To identify the applicability and performance requirements of the 'preparation” level of service
- To understand the revised performance and reporting requirements related to engagements to compile financial statements
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