Attestation Standards and Special Reporting Issues
The purpose of this course is to review, recall and identify the changes that SSAE No. 10, Attestation Standards: Revision and Recodification, made to the Attestation Standards. Additionally, the overall theme of special reporting issues, including guidance found in AU-C Section 800: Special Considerations- Audits of Financial Statements Prepared in Accordance With Special Purpose Frameworks (formerly found in SAS No. 62, Special Reports), is covered. You will gain an understanding of the foundation of Attestation Standards and of the fundamental and key changes that SSAE No. 10 made to the existing standards. Moreover, the section covering the general framework of the standards explain the requirements, examination engagements, review engagements and other matters affecting Attestation Standards. Section 2 covers agreed-upon procedures engagements, while Section 3 covers compliance engagements and reporting on specific elements, accounts or items of a financial statement. Section 4 addresses prospective financial information. Because of investors’ and bankers’ need for forward-looking information, accountants in both public accounting and industry need to understand the rules for prospective financial forecasts and projections. Finally, Section 5 of the course covers reporting on pro forma information, summarizes the basics of MD&A, and more. The course focuses on reviewing, recalling and identifying the rules related to the attestation standards.