Description
Learn to identify and respond to requirements for reporting and how comply with expanded professional standard responsibilities.The Statements on Standards for Accounting and Review Services continue to expand the responsibilities of the accountant. Compliance with these evolving standards is essential for all CPAs to maintain the quality of their practice in the face of today’s complex accounting environment. The challenges of keeping current with financial statement presentation and attestation reporting while continuing to provide timely client service require the CPA to maximize their learning in an efficient manner. This topic will focus on critical new requirements in the most recent pronouncements by the AICPA’s Accounting and Review Services Committee in order to communicate a comprehensive understanding what is required by professional standards is fundamental to planning and conducting SSARS engagements today.
Date: 2020-07-23 Start Time: End Time:
Learning Objectives
Statement on Standards for Accounting and Review Services No. 24
• New AR-C Section: Special Considerations – International Reporting Issues
• Changes in AR-C Section 60 – Adding to and Amending the Definitions of Financial Reporting Framework and Clarifying Impact on Independence of Accountant Involvement With the Design, Implementation, and Maintenance of Internal Control Systems
• Review Amendments to AR-C Section 90 Which Expand the Accountant’s Responsibility to Perform Procedures for Evaluating and Disclosing the Entity’s Ability to Continue as a Going Concern
Standards for Accounting and Review Services No. 25
• Primary Focus on the Significant Amendments to AR-C Section 90
• Changes to the Accountant’s Responsibilities in Review Engagements Relative to Financial Statement Revisions Resulting From Material Misstatements, Subsequent Events and Going Concern Issues
• Important Changes in the Form of the Review Report, Including the Introduction of an Adverse Report and Corrections of Prior Year Material Misstatements
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
James A. Smith, CPA, CGMA-Smith, Jackson, Boyer & Bovard, PLLC
