How to Conduct a Compilation Engagement

A compilation engagement involves a greatly reduced set of activities from a review engagement, and especially from an audit. In How to Conduct a Compilation Engagement, we describe the steps required to complete a compilation, as well as every other aspect of a compilation engagement, including the engagement letter and the compilation report. The course also includes the requirements for an engagement in which the accountant is called upon to prepare financial statements for a client. This course is based on SSARS 21, Statements on Standards for Accounting and Review Services: Clarification and Recodification.
Format

PDF Course

Level

Overview

Duration

1 Hour

Related Courses
Audit Engagements
Review Engagements

Course Information

Author: Steven Bragg
Course Number: AU1016

Learning Objectives
  • State the responsibilities of the accountant in a compilation engagement.
  • List the steps usually taken during a compilation engagement.
  • Identify the reasons why an accountant may withdraw from a compilation engagement.
  • Describe the contents of the documentation assembled following a compilation engagement.
  • State the responsibilities of the accountant who has been engaged to prepare financial statements.

Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Auditing
Prerequisites: None
Advance Preparation: None
Latest Review Date: March 2024
Program Registration Requirements: Click on the Enroll Button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
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The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.