Description

SSARS #21 codified and clarified all previous SSARS standards and was effective for financial statements ending on or after December 15, 2015. It revised existing standards, upgraded service requirements, and introduced a new level of service – the “Preparation Engagement.” SSARS #21 requires numerous practice issues for the various service levels, including confirming the services to be provided to the client, attest vs. non-attest services, required procedures to be performed and documentation of them, and reporting requirements for each level of service. SSARS #21 also addresses specific issues overlooked in the original standard. Updates to SAS #21 are also provided and discussed.

Target Audience

 CPAs currently providing preparation, compilation and review services.

Course Objectives

• Recognize relevant features of each level of service under the SSARS standards
• Determine which practice issues have the most significant impact on practitioners providing services under the SSARS standards, including maintaining independence when providing various non-attest services
• Identify best practices for providing both attest and non-attest services

Subjects

• Review of applicable SSARS standards, including standards updates
• Review of AICPA professional ethics requirements
• In-depth discussion of non-attest services
• Review of independence issues for SSARS services
• Overview of SSARS #21–performance, documentation and other requirements
• Detailed analysis of preparation vs. compilation engagements
• Detailed analysis of review engagements