How to Conduct a Review Engagement

A review engagement involves a significantly reduced set of activities from an audit engagement, with a focus on analytical procedures and inquiries. In How to Conduct a Review Engagement, we describe the nature of these analytical procedures and inquiries, as well as every other aspect of a review engagement, including the engagement letter, representation letter, and accountant’s review report. This course is based on SSARS 21, Statements on Standards for Accounting and Review Services: Clarification and Recodification.
Format

PDF Course

Level

Overview

Duration

2 Hours

Related Courses
Audit Engagements
Compilation Engagements

Course Information

Author: Steven Bragg
Course Number: AU1015

Learning Objectives
  • Recognize the situations in which the accountant cannot accept a review engagement.
  • List the contents of an engagement letter.
  • identify the reasons why the accountant needs an adequate knowledge of the client’s business.
  • Describe the different types of analytical procedures that can be used as part of a review engagement.
  • List the different types of inquires that an accountant would make as part of a review engagement.
  • Describe the decision criteria for judging whether an uncorrected misstatement is material.
  • Recognize the types of evidence indicating that a client may not be able to continue as a going concern.
  • Recognize the available methods for keeping a review report from being used in the future by a client.
  • Identify the contents of a representation letter.
  • Recognize how the accountant handles a client request to use financial statements prepared in accordance with a special purpose framework.

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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