Wolters Kluwer

CCH® Compilation and Review Certificate Program

Learning Center Bundle
Published: 11/30/2015

$299.00

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Offer Number: 10039153-0001
Volumes: 1

CCH Compilation and Review Certificate Program offers expert, detailed guidance for performing compilations, reviews, and preparations in accordance with the recently effective SSARS 21. Written by noted experts James L. Ulvog and Alan W. Anderson, the Compilation and Review Certificate Program covers all the essentials of compilation, review, and preparation engagements. New and experienced practitioners can provide these services to clients, and feel confident that they know what's new and have a good grasp of the fundamentals.

The AICPA Accounting and Review Services Committee (ARSC) recently approved the issuance of SSARS 21, which became effective in December 2015 and may significantly change compilation engagements. The ARSC completed a clarity process for both compilation and review engagements which is also reflected in SSARS 21. CCH Compilation and Review Certificate Program not only covers the current requirements for compilation and review engagements, but also explains the requirements for performing an engagement to prepare financial statements, specifically those parts of the SSARS literature that apply only to a preparation engagement. This certificate program will update you on what your firm must do to prepare for these changes in how financial statements will be prepared.

The Compilation and Review Certificate Program distinctive features include:

  • Eight comprehensive, easy-to-understand self-study courses
  • One on-demand seminar that emphasizes the changes made by SSARS 21
  • Emphasis on fundamental principles, relevant changes and application
  • Tools and Resources that provide resources and checklists, etc. for you to gain in-depth knowledge of the topic, learn the newest developments on the subject, and apply what you’ve learned to your practice
  • Observations throughout each course reveal insight, suggestions, and practice pointers from experienced practitioners
  • Caution notations reveal critical practitioner problem areas to avoid
  • Integrated "Review Questions and Answers" reinforce understanding and improve retention
  • Examples demonstrate important points and principles
  • Sample reports for clarification and use in practice
  • Up to 17 CPE Credits
  • Certificate of educational achievement upon successful completion of the program certificate exam

CCH's Compilation and Review Certificate Program is ideal for staff training by accounting firms, and anyone who needs updated, comprehensive training in performing compilation, review, and preparation engagements.


Course Listing


Compilation and Review Engagements: Prepare for Big Change (SSARs 21)

The AICPA Accounting and Review Services Committee (ARSC) recently approved the issuance of SSARS 21, which incorporated the following exposure drafts: Preparation of Financial Statements and Compilation Engagements—which may significantly change compilation engagements. ARSC completed a clarity process for both compilation and review engagements which is also reflected in SSARS 21. This two CPE hour CCH Learning Center course, Compilation and Review Engagements: Prepare for Big Change (SSARs 21), will update you on what your firm must do today to prepare for these changes in how financial statements will be prepared.

Upon completing this course, you will be able to:

  • Understand the new standards and how they will affect compilation and review engagements;
  • Explain these changes in how financial statements will be prepared;
  • Implement the changes in required documentation for both compilation and review.

Field of Study: Auditing
Prerequisites: Basic understanding of accounting issues
Level: Update

Credit Available / Units
CPE 2.00 CPE
QAS 2.00 CPE


Compilation and Review: Running Your First Engagement

Moving into the role of an in-charge accountant is a big step in professional growth. The responsibilities of that role may be a little vague because there are many tasks that have never been done before.

This CCH Learning Center course, Compilation and Review: Running Your First Engagement, walks through many of the responsibilities of an in-charge accountant from the perspective of someone taking on their first engagement.

Upon completion of the course, you will be able to:

  • Describe key components of a time control
  • Explain how a time control can be used to manage an engagement
  • Describe the types of information to request from a client and other information that needs to be coordinated with the client during the planning stage
  • Explain how an in-charge accountant can respond if complications are encountered during an engagement
  • Describe the impact on running an engagement when there are multiple staff assigned
  • Describe the process of drafting or reviewing financial statements and coordinating changes with the client
  • Describe key documentation needed at the conclusion of the engagement including disclosure checklists and client representation letters
  • Describe the internal review process that follows after work is completed by the in-charge accountant
  • Explain the impact of a workpaper lock-down timeline on adding or deleting documentation

Field of Study: Auditing
Prerequisites: None
Level: Basic

Credit Available / Units
CPE 2.00 CPE
QAS 2.00 CPE


Compilation, Review and Preparation: Practice Issues (4th Edition)

This CCH Learning Center course, Compilation, Review and Preparation: Practice Issues (4th Edition) , was prepared to enable participants who are experienced accountants to maintain and improve their knowledge of the issues affecting their compilation and review practices.

Upon course completion, you will be able to:

  • Identify alternatives for reporting other than GAAP financial statements with full disclosures
  • Name the effective date for SSARS 21 and list possible transition issues
  • Describe the organization and format of SSARS 21
  • Describe the new service available under SSARS: preparation of financial statements
  • Define unconditional requirements and presumptively mandatory requirements
  • Describe the independence requirements for each level of service
  • Describe the requirement to obtain a signed, written engagement letter for services
  • Describe when an understanding with management apart from the engagement letter is necessary
  • Identify documentation requirements for preparation, compilation, and review engagements
  • Identify the basic elements of an accountant's report for compilation and review engagements
  • Identify when the Quality Control Standards apply to an accounting practice

Field of Study: Auditing
Prerequisites: Experience in providing compilation and review services.
Level: Intermediate

Credit Available / Units
CPE 3.00 CPE
QAS 3.00 CPE


Compilation, Review, and Preparation: Compilation (2nd Edition)

The focus of this CCH Learning Center course, Compilation, Review, and Preparation: Compilation (2nd Edition), is to describe the components of SSARS that apply to a compilation engagement. A prerequisite course Compilation, Review, and Preparation: Introduction describes the portions of SSARS that apply to compilation engagements as well as reviews and preparation of financial statements.

Upon completion of this course, the user should be able to:

  • Define unconditional requirement and presumptively mandatory requirement.
  • Describe the different professional obligations when the SSARS literature identifies an item using unconditional requirement language, presumptively mandatory language, or the phrase should consider.
  • Identify the effective date of SSARS 21
  • Define the objective of a compilation engagement
  • Explain that the independence requirements for a compilation engagement and the impact on the accountant's report from any impairment
  • Explain the requirement for a signed engagement letter or other written contract
  • Identify the required understandings with management if a written understanding is reached with those charged with governance
  • Describe the required procedures in a compilation engagement
  • Describe the accountant's responsibility when becoming aware of incomplete or incorrect information in the financial statements
  • List the elements of the accountant's compilation report
  • Describe changes to the accountant's compilation report for financial statements prepared using a special purpose framework, omission of substantially all disclosures, known departures from financial reporting framework, supplemental information
  • Describe the items for compilation engagements which were addressed in SSARS
  • 19 but were not carried over into SSARS 21
  • List the required documentation for a compilation engagement

Field of Study: Auditing
Prerequisites: Compilation, Review, and Preparation: Introduction (2nd Edition)
Level: Basic
Course was last updated on: 1/19/2015

Credit Available / Units
CPE 2.00 CPE
QAS 2.00 CPE


Compilation, Review, and Preparation: Introduction (2nd Edition)

Many components of the SSARS are changed when SSARS 21 goes into effect for financial statements ending on or after December 15, 2015. This CCH Learning Center course, Compilation, Review, and Preparation: Introduction (2nd Edition), provides the basics of the SSARS literature that applies to all three types of services: preparation of financial statements, compilations and reviews.

Upon completion, the user will be able to:

  • Describe how the guidance for preparation, compilation, and review
  • engagements are separated in the SSARS literature;
  • Describe the effective date of SSARS 21;
  • Identify the sources of applicable financial reporting frameworks;
  • Provide a general description of the new preparation service;
  • List the objectives for a preparation, compilation, and review engagement;
  • Define unconditional requirement and presumptively mandatory requirement;
  • Describe the different professional obligations when the SSARS literature identifies an item using unconditional requirement language, presumptively mandatory language, or the phrase "should consider";
  • List guidance that was included in SSARS 19 but dropped from SSARS 21;
  • Describe those elements of a quality control system that are specifically mentioned in the SSARS literature.

Field of Study: Auditing
Prerequisites: None
Level: Basic

Credit Available / Units
CPE 1.00 CPE
QAS 1.00 CPE


Compilation, Review, and Preparation: Preparation Engagements

This CCH Learning Center course explains the requirements for performing an engagement to prepare financial statements, specifically those parts of the SSARS literature that apply only to a preparation engagement.

Many components of the SSARS are changed by SSARS 21 going into effect for financial statements ending December 15, 2015 or later. This CCH Learning Center course, Compilation, Review, and Preparation: Preparation Engagements, explains the requirements for performing an engagement to prepare financial statements, specifically those parts of the SSARS literature that apply only to a preparation engagement.

Upon completion, you will be able to:

  • Identify the effective date of SSARS 21;
  • Describe the transition from “management use financials” under SSARS 19 to preparation engagements under SSARS 21;
  • Provide examples when section 70 for preparation engagements does and does not apply;
  • Describe how the guidance for preparation, compilation, and review engagements are separated in the SSARS literature;
  • Define unconditional requirement and presumptively mandatory requirement;
  • Define the objective of preparation engagements;
  • Explain independence requirements in relation to a preparation engagement;
  • Explain the requirement for a signed engagement letter;
  • Describe the accountant's limited responsibility regarding the completeness or accuracy of prepared financial statements;
  • Describe the required comment necessary on each page of the prepared financial statement;
  • Identify the required documentation in a preparation engagement.

Field of Study: Auditing
Prerequisites: Compilation, Review, and Preparation: Introduction, or equivalent
Level: Intermediate
Course was last updated on: 1/15/2015

Credit Available / Units
CPE 1.00 CPE
QAS 1.00 CPE


Compilation, Review, and Preparation: Reporting on Review Engagements

This CCH Learning Center course, Compilation, Review, and Preparation: Reporting on Review Engagements, addresses the components of SSARS that apply to performing a review engagement. It describes the accountant's review report issued at the conclusion of a review engagement.

Upon completion of this course, you will be able to:

  • Describe the required elements of an accountant's review report.
  • Describes the reporting requirements when the financial statements are prepared using a special purpose framework.
  • Describe how the accountant responds when becoming aware of possible fraud or noncompliance with laws and regulations. This includes communications with the client and possible modifications of the accountant's report.
  • Describe the requirements for an emphasis-of-matter paragraph.
  • Describe the steps taken by an accountant when a departure from the applicable financial reporting framework is identified.
  • Describe possible modifications to the accountant report for a known departure from the financial reporting framework.
  • Identify steps necessary when information comes to an accountant's attention that there may be uncertainty about an entity's ability to continue as a going concern.
  • Define subsequent events and subsequently discovered facts.
  • Explain how the accountant responds when subsequent events and subsequently discovered facts come to the accountant's attention.
  • Describe possible modifications to the accountant's report when resolving subsequent events and subsequently discovered facts.
  • Describe the accountant responsibilities when supplemental information is presented.
  • Identify reasonable justifications for transitioning from an audit to a review.

Field of Study: Auditing
Prerequisites: knowledge of SSARS rules on compilations and review procedures
Level: Intermediate
Course was last updated on: 2/17/2015

Credit Available / Units
CPE 2.00 CPE
QAS 2.00 CPE


Compilation, Review, and Preparation: Review Engagement Procedures

The focus of this CCH Learning Center course, Compilation, Review, and Preparation: Review Engagement Procedures, is to describe the components of SSARS that apply to a review engagement. This course covers the procedures performed during a review engagement, which are covered in section 90 of SSARS 21.

Upon completion of this course, you will be able to do the following:

  • Define unconditional requirement and presumptively mandatory requirement.
  • Describe the different professional obligations when the SSARS literature identifies an item using unconditional requirement language, presumptively mandatory language, or the phrase should consider.
  • Identify the effective date of SSARS 21.
  • Describe the objective of a review
  • Explain the requirement to be independent when performing a review engagement.
  • Describe how materiality is incorporated to a review engagement
  • Identify items that should be addressed when an accountant establishes an understanding with the client.
  • Describe the requirement to obtain a signed, written understanding with the client.
  • Explain the need to obtain certain understandings with management when the engagement letter has been signed by those charged with governance.
  • Explain that a review should include gaining an understanding of the industry and the client.
  • Explain the accountant's consideration of risk when performing a review engagement.
  • Describe the types of analytical procedures that may be performed during a review.
  • Describe the types of inquiries that may be performed during a review.
  • Explain that the accountant should read the financial statements and reconcile them to the underlying accounting records.
  • List the information that should be included in a representation letter.
  • Explain the ramifications if a client does not provide a representation letter.
  • Describe the documentation requirements for a review.

Field of Study: Auditing
Prerequisites: Compilation, Review, and Preparation: Introduction, or equivelent knowledge
Level: Basic

Credit Available / Units
CPE 2.00 CPE
QAS 2.00 CPE


Compilation, Review, and Preparation: The Engagement (5th Edition)

This CCH Learning Center course, Compilation, Review, and Preparation: The Engagement (5th Edition), examines many facets of a compilation or review engagement, from creating engagement letters and understanding documentation requirements to describing the accountant's responsibility for fraud, and several complexities of Statements on Standards for Accounting and Review Services (SSARS) engagements.

Upon completing this course, you should be able to:

  • Recognize the guidance requirements which must be followedn when conducting a compilation or review.
  • Identify the rules found in SSARS 21, Statements on Standards for Accounting and Review Services: Clarification and Recodification.
  • Recognize the accountant's responsibility regarding fraud when performing a compilation engagement.
  • Identify the differences between the words “should”, “must” and “should consider” as defined in the SSARS literature.

Field of Study: Auditing
Prerequisites: Basic knowledge of compilation and review procedures
Level: Intermediate

Credit Available / Units
CPE 2.00 CPE
QAS 2.00 CPE


Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of these courses.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of each course to meet those specifications.