Improve your proficiency in reducing the risk of material misstatements-whether caused by fraud or error. This course will deepen your understanding of the AICPA's professional standards for compilations and reviews. Through review questions and case studies, we'll probe the practical meaning of professional standards and address the professional judgments and considerations related to minimizing misstatements, legal exposure and peer review deficiencies.
Learning Objectives
- Identify potential problem areas concerning compliance with the standards for compilations and reviews
- Determine ways to apply professional standards to situations commonly encountered in public practice
- Recognize ways to minimize the risk of association with financial statements containing material misstatements, whether caused by fraud or error
Major Topics
- Fraud
- Misstatements
- Materiality
- Revenue recognition
- Related parties
- Going concern uncertainties
- Engagement letters
- Documentation and peer review considerations
