Compilations and Reviews: Risks, Procedures and Fraud

Description

This course provides a review of standards for accounting and review services, with a specific focus on the risks accountants may face when providing these services. It further offers valuable guidance for making informed, professional judgments integral to the delivery of these services.

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