Description

This course provides a comprehensive review of the current standards and issues in compilation, review and accounting service engagements. The scenarios included provide examples from the whole spectrum of practice management and engagement performance. All CPAs managing compilation, review or accounting service engagements will benefit.

Highlights

• Having critical conversations: engagement scope, firm responsibilities, client responsibilities
• Supervision of client employees
• Preventing engagement creep
• Maintaining quality control over accounting services
• Performance requirements for compilations and reviews
• Consideration of fraud and illegal acts
• Withdrawing from an engagement
• Numerous practice-proven examples of engagement letters, client acceptance forms, work programs, rep letters and quality control monitoring forms

Objectives

Upon completion of this course, participants will be able to:
• Identify practices to efficiently manage compilation, review and accounting services in conformity with all applicable current professional standards and best business practices
• Identify the risks inherent specifically in bookkeeping, payroll and other accounting services
• Identify the risk management practices available