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CPE Self-Study
Engagements to Prepare Financial Statements
NASBA FIELD OF STUDY
Auditing
LEVEL
Basic
CPE CREDITS
Online: 3.0
Included in Preparation, Compilation, and Review Staff Essentials, this CPE course provides fundamental training on the general principles and objective of an engagement to prepare financial statements as well as the performance standards associated with engagements to prepare financial statements.

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Product details

Who Will Benefit?

  • CPA firm attest staff, including paraprofessionals new to performing SSARSs engagements

Key Topics

  • Reporting on Financial Statements
  • Evolution of Engagements to Prepare Financial Statements
  • Hierarchy of Preparation Standards and Guidance
  • Objective and Scope of Preparation Engagements
  • Acceptance and Continuance of Client Relationships
  • Performance Requirements
  • Documentation for Engagements to Prepare Financial Statements
  • Independence and Ethics
  • Quality Control in Engagements to Prepare Financial Statements
  • Peer Review

Learning Objectives

When you complete this course, you will be able to do the following:

  • Identify the types of engagements that require a report on the financial statements.
  • Distinguish between an engagement to prepare financial statements and a compilation of financial statements.
  • Identify the framework and objectives of engagements to prepare financial statements.
  • Distinguish between preparing financial statements and assisting in the preparation of financial statements.
  • Recall the performance requirements for an engagement to prepare financial statements.
  • Recognize the minimum documentation requirements for an engagement to prepare financial statements.
  • Recall the independence considerations when performing a nonattest service for an attest client.
  • Recognize the elements of a quality control system.
  • Identify the circumstances in which engagements to prepare financial statements would be subject to peer review.

This CPE course is included in the 15-hour Preparation, Compilation, and Review Staff Essentials program. It can also be purchased as a part of the Compilation and Preparation Engagements Series.

This innovative CPE course has been designed to provide a convenient, accessible way for firms to train their staff in this area of practice. With the introduction of SSARS No. 21, Statement on Standards for Accounting and Review Services: Clarification and Recodification, a new standard, Preparation of Financial Statements, emerged. This CPE course provides fundamental training on the general principles and objective of an engagement to prepare financial statements as well as the performance standards associated with engagements to prepare financial statements. This enhanced learning program combines real-world examples, practice exercises, case studies, and a "learning coach", to create a flexible, engaging learning experience.

Ratings and reviews
Author(s)

Hugh Parker, Ph.D., CPA

Hugh has more than 25 years of experience in accounting, auditing, business valuation, and litigation support in local and regional firms. A PhD as well as a CPA, Parker has taught CPA continuing education courses across the country, and has been recognized by the American Institute of Certified Public Accountants as an Outstanding CPE Instructor.

His career includes experience teaching undergraduate and graduate accounting courses, Dean of the Else School of Management at Millsaps College and Executive Partner of HORNE LLP. Parker's volunteer service includes campaign chair of the Millsaps College Else School of Business, USM College of Business Advisory Board, Boys and Girls Clubs of Central Mississippi, Boy Scouts, Mississippi Special Olympics, and the Mississippi Symphony Orchestra.

Kimberly Burke, Ph.D.

Dr. Burke, professor of accounting, is the Dean at Millsaps College’s Else School of Management. She began her position on July 1, 2012. She oversees the undergraduate business program, an MBA program, an Executive MBA program, and a Master of Accountancy program. As an accounting professor, Dr. Burke has taught a variety of classes including undergraduate and graduate auditing, intermediate and advanced accounting, accounting information systems, principles of financial accounting and introduction to liberal studies. In 2008, she was recognized by the Carnegie Foundation for the Advancement of Teaching and the Council for Advancement and Support of Education as the Mississippi Professor of the Year.

Dr. Burke holds a B.B.A. and an M.S. in accounting from Texas Tech University and a Ph.D. from Oklahoma State University. She joined the Millsaps faculty in 1995. Her research interests include the labor market for academics, assurance services, expectations formation and gender issues. Her research has been published in multiple publications including Advances in Accounting, Southern Economic Journal, Journal of Information Systems, Journal of Service Marketing and Internal Auditing.

Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

Price:
$89.00
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Estimated total:
$89.00
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CREDIT INFO
CPE credits
Online
: 3.0
NASBA Field of Study
Auditing
Level
Basic
Prerequisites
None
ADVANCE PREPARATION
None
Delivery Method
QAS Self-Study
Course acronym
PCRE-PREP1
GROUP PRICING
Contact a representative for group pricing.
Telephone: 800.634.6780 (Option 1)
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