Frequently, third parties may request certain financial and nonfinancial information to be verified by the external accountant (often referred to as ";comfort letters"). This course will provide insight into how to respond to requests for comfort in a way that will minimize professional liability risk.
Learning Objectives
Describe the various nonattest and attest options available for appropriately responding to third party verification requests Explain how to select the most appropriate type of engagement to meet the client's needs Discuss how to meet the needs of your client and satisfy third parties, without putting your practice at risk
Major Topics
Common third party verification requests Differentiating the allowable options for responding to requests for comfort, including SSARS, SAS and SSAE engagements Critical elements of professional standards that may apply to nonattest and attest services performed Establishing an understanding with the client regarding the nature and scope of services
