[WEB2] SSARS 25 - What You Need to Know
Practitioners need to be aware of the changes and how their practice will be affected, particularly in the area of review engagements. Even though the concept of materiality is not new, the standard provides guidance which has previously been associated only with
SSARS 25 includes a specific requirement to determine materiality including documentation. Other new requirements are specific to inquiries to more effectively design needed review procedures, changes to language in the report letter that will include a reference to accountant independence and other ethical considerations, much like the audits new report letter.
SSARS 25 also addresses required procedures and documentation when a qualified or adverse conclusion on reviewed financial statements is appropriate.
- Definition changes including special purpose framework
- Materiality concept for reviews
- Procedures and documentation required for an adverse conclusion for a review
- Examples of accountants report letters
- Identify the changes in required procedures and documentation on a review engagement
- Understand that all levels of service will now consider concepts such as materiality which have been previously assumed to be only related to audits
- Review illustrations and examples of the changes in the accountants report letter
- Understand the facts and circumstances when an adverse conclusion is required on a review engagement
CPAs and practitioners in small to medium size public accounting firms that perform compilation and review services.
Early Registration Member Fee
Applicable if you are a HSCPA member in good standing and register by March 4, 2021.
Applicable if you are a HSCPA member in good standing.
Early Registration Non-Member Fee
Applicable if you are not a HSCPA and register by March 4, 2021.
Applicable if you are not a HSCPA member.