SSARS 25: Materiality in a Review of Financial Statements and Adverse Conclusions
The purpose of this course is to inform the reader of the various changes made to the compilation and review codification by the issuance of SSARS No. 25, Materiality in a Review of Financial Statements and Adverse Conclusions, including changes made to AR-C 60- General Principles, AR-C 70- Preparation of Financial Statements, AR-C 80- Compilation Engagements, and AR-C 90- Review of Financial Statements. Topics include expanding use of the disclaimer report in a preparation engagement, changes involving the reporting on the contractual basis of accounting, new requirements to define materiality in a review engagement, expanded inquiries and management representations in a review engagement, the new modified conclusion (qualified and adverse conclusion) reporting changes, guidance on going concern in a review engagement, and more.
The course addresses the three types of engagements that can be performed under the SSARSs: a preparation of financial statements engagement, a compilation engagement, and a review engagement.
This course is included in our Accounting and Auditing CPE Bundle.