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Track 6 of 19 · Core

Review and compilation engagements (SSARS)

The SSARS engagements: preparation under AR-C 70, compilation under AR-C 80 and review under AR-C 90, including independence, inquiry and analytical procedures, representations, and the accountant’s reports.

13 lessonsAbout 55 minAR-C 60 · AR-C 70 · AR-C 80 · AR-C 90
0 of 13 complete
Syllabus

For: Staff and managers in firms with a reviews and compilations practice.

  1. 01How the SSARSs are organized and what AR-C 60 requires on every engagementThe structure of the AR-C sections, the SSARSs now in force, and the AR-C 60 rules on ethics, acceptance and preconditions that apply to every engagement.5 min · worked example · 4 self-check questions
  2. 02Choosing between a preparation, a compilation and a reviewHow to match the client and its lender to the right SSARS service: assurance level, independence, reports, procedures and what each one costs the client.4 min · worked example · 3 self-check questions
  3. 03Preparation engagements under AR-C 70What triggers AR-C 70, the engagement letter terms, the "no assurance is provided" legend, departures, omitted disclosures and the documentation minimum.5 min · worked example · 4 self-check questions
  4. 04Performing a compilation under AR-C 80Acceptance conditions, engagement letter terms, the compilation procedures in AR-C 80, withdrawal triggers and the documentation a compilation file needs.4 min · worked example · 3 self-check questions
  5. 05The compilation report: required elements, independence and omitted disclosuresThe AR-C 80.17 report elements, how to disclose a lack of independence, the omitted-disclosures paragraph and how to report known departures from the framework.4 min · worked example · 4 self-check questions
  6. 06Accepting a review engagement and agreeing its terms under AR-C 90Independence, skepticism, review-specific preconditions, the AR-C 90.16 engagement letter terms and what to do when an audit client asks to step down to a review.4 min · worked example · 4 self-check questions
  7. 07Determining and using materiality in a review under SSARS No. 25The AR-C 90.19-.20 materiality requirement added by SSARS No. 25, how to set and revise it, and how to use it in designing review procedures and evaluating results.4 min · worked example · 4 self-check questions
  8. 08Designing and investigating analytical procedures in a reviewThe four analytical procedures AR-C 90 requires, how to build an expectation and threshold under AR-C 90, and how to investigate differences under AR-C 90.4 min · worked example · 3 self-check questions
  9. 09Inquiries and the other procedures a review requiresThe AR-C 90.29 inquiry list, related parties, fraud, going concern, reconciling to the records, subsequent events and when a review requires added procedures.5 min · worked example · 4 self-check questions
  10. 10The representation letter in a review engagementWho signs the review representation letter, the fourteen specific representations AR-C 90 requires, dating, tailoring and what to do when management will not sign.4 min · worked example · 4 self-check questions
  11. 11The review report, modified conclusions and additional paragraphsThe AR-C 90.76 report elements, qualified and adverse conclusions, emphasis-of-matter and other-matter paragraphs, going concern sections and supplementary information.4 min · worked example · 4 self-check questions
  12. 12Cash-basis and tax-basis statements in compilations and reviewsWhich special purpose frameworks AR-C 60 recognizes, the disclosures management owes, and the required compilation and review report paragraphs for each framework.4 min · worked example · 3 self-check questions
  13. 13Quality management and documentation for SSARS engagements under SSARS No. 26How SSARS No. 26 links AR-C engagements to the firm’s quality management system: engagement partner duties, ethics, monitoring, and AR-C 90.137-.139 documentation.4 min · worked example · 4 self-check questions
For US CPA firms

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