2017 FASB, GAAS & Compilation and Review Update

Date: Tuesday, January 17, 2017
Instructor: Pat Patterson
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs

Review new FASB Pronouncements. Special consideration given to those pronouncements that may apply to Compilation and Review engagements. Learn about the new SSARS 21 from the Accounting and Review Services Committee that is requried to be implemented in 2016 for preparation, compilation, and review engagements. These changes represent the most significant changes to these standards in over 30 years. Review pertinent, specially selected standards from earlier years.

Who Should Attend
Professionals in public practice, industry, government, and education who deal with nonpublic entities.

Topics Covered

  • New preparation, compilation, and review standards for 2016. Financial Reporting Platform for SMEs from the AICPA
  • New releases from the FASB's Private Company Council and its status
  • New issues about the concept of materiality for preparation, compilation, and review engagements
  • New issues in preparation, compilation, and review engagement letters and review representation letters specified in SSARS 21
  • Documentation standards will be reviewed for any changes required by new SSARS 21 standards
  • Updates on previously issued standards that may still apply and their involvement with SSARS 21
  • Further updates that impact on preparation, compilation, and review engagements that include: new Quality Control Standards (SQCS8) and its requirements
  • The revised requirements of Ethics 1.295 (formerly Ethics Interpretation 101-3) will be explored for revisions and updates in attest/nonattest applications specifically dealing with preparation, compilation, and review issues
  • Any other matters deemed appropriate and timely

Learning Objectives

  • Identify how to complete engagement letters for preparation, compilation, and review engagements
  • Properly complete accounting reports (if any) for the new standards
  • Evaluate and communicate to management the new requirements of "going concerns" standards from the FASB

Level
Update

Format
Live webcast

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
General knowledge of generally accepted accounting principles and compilation and review standards.

Advance Preparation
None

Registration Options
Individual
Group
*Note: 3 or more qualifies for discounted Group Participant Fee

Fees
Regular Fee$99
Group Participant Fee$79
Unlimited Webcast Pass Fee$0

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