Compilations and Reviews: Risks, Procedures and Fraud

Description

Refresh your knowledge of the AICPA's professional standards for compilations and reviews and improve your ability to reduce the risk of material misstatements—whether caused by fraud or error.

This course poses questions and uses cases that probe the practical meaning of professional standards in your business. Attendees will address the professional judgments needed and provide tips to avoid mistakes that can result in legal liabilities and peer review deficiencies.

Highlights

• Fraud
• Misstatements
• Materiality
• Revenue recognition
• Related parties
• Going concern uncertainties
• Engagement letters
• Documentation and peer review considerations

Objectives

• Identify potential problem areas concerning compliance with the standards for compilations and reviews.
• Determine ways to apply professional standards to situations commonly encountered in public practice.
• Recognize ways to minimize the risk of association with financial statements containing material misstatements whether caused by fraud or error.

Designed For

Partners, managers and accountants.