CCH Learning Center

Description:
Many components of the SSARS were changed when SSARS 19 went into effect for financial statements ending December 15, 2010. A large portion of the SSARS body of knowledge continued in place. This course provides the basics of the SSARS literature that applies to both compilations and reviews after the impact of SSARS 19.

At the completion of this course, you will be able to:

• Describe the effective date of SSARS 19

• Identify the sources of applicable financial reporting models

• 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 the five elements of the framework for a review or compilation engagement

• Describe materiality as the phrase is used in the SSARS literature

• 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

• Identify appropriate steps necessary upon such a discovery of facts that existed at the date of a report

• Describe how supplementary information should be addressed in a compilation or review report

• Identify steps necessary when information comes to an accountant's attention that fraud or illegal acts may have occurred

• Identify reasonable justifications for transitioning from an audit or review to a different type of service

• Describe steps that may be taken by successor accountant to communication with predecessor accountant

A followup course provides the basics of the SSARS that apply to compilations, including reporting. Another followup course provides the basics that apply to reviews, including reporting and review procedures.