Current Issues Affecting Compilation & Review Engagements (Including SSARS No.21)

Course Description:

In November 2009, ARSC approved compilation and review standards, SSARS No. 19, Compilation and Review Engagements. The contents of this standard have been redrafted in SSARS No. 21.

These materials address the requirements of previous SSARS No. 19 in sections AR 60, AR 80, and AR 90 redrafted in SSARS No. 21, and the significant changes in SSARS No. 21. Subsequently issued standards for applications to cash flow projections and other matters are summarized at the end of these materials. SSARS No. 21 is effective for periods ending on or after December 15, 2015.

Learning Objectives:

Upon successful completion of this course, participants will be able to:

• Understand the fundamental concepts of compilation and review services
• Learn the requirements of previous Statement on Standards for Accounting and Review Services (SSARS No. 19) which were redrafted in SSARS No. 21
• Learn the changes in SSARS No. 21, Clarification and Recodification (from previous SSARS No. 19.)
• Update knowledge of quality control standards