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SSARS No. 25 - Materiality in Financial StatementsCode: 24-SSARS25
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Objectives: The purpose of this course is to inform the reader of the various changes made to the compilation and review codification by the issuance of SSARS No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions
Program Content: Topics include: changes made to AR-C 60- General Principles, AR-C 70- Preparation of Financial Statements, AR-C 80- Compilation Engagements, and AR-C 90- Review of Financial Statements. Topics include expanding use of the disclaimer report in a preparation engagement, changes involving the reporting on the contractual basis of accounting, new requirements to define materiality in a review engagement, expanded inquiries and management representations in a review engagement, the new modified conclusion (qualified and adverse conclusion) reporting changes, guidance on going concern in a review engagement, and more.
CPE Credit: 4 Hours
Program Level: Basic to intermediate
Prerequisites: General understanding of Compilation and Review and Auditing Standards
Advance Preparation: None
Exam expiration date: Participants must submit exams for grading within one year from the date of purchase