| Title: |
Compilation and Review Update |
| Prerequisite: |
None |
| Advanced Preparation: |
None |
| Knowledge: |
Basic |
| Subject Matter Area: |
Auditing |
| Date of Publication: |
March 2007 |
| Copyright: |
© 2007 by Bisk Education, Inc. All rights reserved. |
| Recommended CPE Credits: |
1 QAS/Registry (based on 50-minute hour) |
| Expiration Date: |
One year from date of receipt to complete program and submit quizzer to obtain credit |
| Passing Grade for Quizzer: |
70 percent or higher |
This program will examine the changes that are occurring in the area of compilations and reviews, such as the elimination of the SAS references and incorporation of the necessary guidance into the Statements on Standards for Accounting and Review Services.
Note: Reporting of CPE credit to a CPA's state board is the responsibility of the CPA. Subscribers to CPE Network Accounting & Auditing Report may not receive duplicate credit for this material, which previously aired in the March edition of this program.
This text is divided into three (3) chapters:
Chapter 1 includes an interview with Tom Ratcliffe where he provides his insights on compilations and reviews and changes that are occurring in that area.
Chapter 2 contains supplemental materials clarifying the issues surrounding the elimination of the SAS references in the SSARS, the adoption of the PEEC conceptual framework for independence as an integral part of the Code of Conduct, as well as other current issues.
Chapter 3 contains review problems that help illustrate the topics covered in the previous chapters.
Thomas A. Ratcliffe, PhD, CPA, is Director of Accounting & Auditing at Wilson, Price, Barranco, Blankenship & Billingsley, PC, in Montgomery, Alabama. He is also the Director Emeritus of the School of Accountancy at Troy University in Troy, Alabama.