Objectives:The objective of this course is to inform the reader of the various changes made to the compilation and review standards by the AICPA's Accounting and Review Services Committee (ARSC), and to address practice issues related to compilation and review engagements.
Program Content:
The first section of this course consists of an overview of SSARS No. 21, as amended by SSARS Nos. 22 through 25, and addresses the three types of engagements that can be performed under the SSARSs: a preparation of financial statements engagement, a compilation engagement, and a review engagement.
The remainder of the course consists of practice issues in compilation and review engagements. Topics include a discussion of an accountant's responsibility for fraud, internal control and going concern, representation letters for review engagements, personal financial statements, tax-basis financial statements, legends on financial statements, accountant's liability in compilation and review engagements, saving time in engagements, ethics and independence issues, and more. The focus of the course is to identify, recognize and recall the rules pertaining to various pronouncements, including those related to recent developments.
Presentation Method: Self-Study
Category: Auditing
CPE credit: 20 Hours
Program Level: Basic to intermediate
Prerequisites: Basic understanding of compilation and review engagements
Advance Preparation: None
Exam expiration date: Participants must submit exams for grading within one year from the date of purchase
I am very (extremely) satisfied with the support I received sorting out a download issue I had with the software. (It was a reboot issue that was caused by my computer- not AC's software). I did not realize at the time that the telephone conversations that I had were with the President of the company. He was very patient and tried to replicate the glitch by downloading the software on his end. After I rebooted my computer, everything fell into place, which made be comfortable with AC 's software and support system. I am very impressed with the support provided by American CPE.
David Sobotka
07/20/2025
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David A. Sobotka, CPA
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American CPE Compilation and Review update
I am very positively impressed with the American CPE program. I just started my first course and found it to be very user friendly. Now taking the Compilation and Review Update. Love having the 500+ pages of the program saved on my hard drive. No need to print it all out! The control "F" feature allowing me to go to specific words or phrases is super helpful. The program is well written and has many useful charts, example reports and letters. I recommend this program to all CPAs.
Paul J Card
10/02/2020
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Smith & Co., CPAs, PLC
1 of 1 customers found this helpful.
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ACCOUNTING FOR TAX REFORM
Undoubtedly very well explained. Lots of information which is not found in other courses or in IRS publications. Every accountant should take this course.