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A CPA may perform various attest services under relevant professional standards, including compilations, reviews and audits. Reviews and audits are also considered assurance services, providing either limited or reasonable assurance that financial statements are free of material misstatement. In addition, the CPA may perform non-attest services, such as bookkeeping or preparation of financial statements. CPAs must fully understand the professional responsibilities related to each of these varying levels of services, in order to effectively and efficiently satisfy engagement objectives.

Major Topics:

  • Compare and contrast the basis and requirements of preparing financial statements, compilations, reviews, and audits
  • Critical elements of compilation, review, and audit reports
  • Impact of special purpose accounting frameworks and other special issues
  • Exercise on designing inquiries and analytics in a review
  • Case study differentiating the scope of various non-attest and attest services
  • Avoiding litigation risks in accounting services
Learning Objectives
  • Explore and explain how to avoid litigation risk in bookkeeping services.
  • Explore and explain the basis and requirements for a compilation contrasted with preparing financial statements.
  • Discover and discuss special purpose framework and other issues.
  • Discover and describe the basis and requirements for a review.
  • Explore and explain the basis and fundamental requirements for an audit.
Last updated/reviewed: March 23, 2024

Included In Certifications

This course is included in the following Certification Programs:

13 CoursesAudit Training Certification - Level 1 - Beginning Staff

  1. Professional Skepticism - Creating a Mindset for Finding Fraud and Error
  2. Audit Documentation - Creating Workpapers That Pass Review
  3. Adapting to the Engagement - Differentiating the Requirements of Preparations, Compilations, Reviews, and Audits
  4. The Audit Risk Model - Understanding Foundational Principles
  5. Internal Control Fundamentals - Satisfying Audit Requirements for Evaluating Design and Implementation
  6. Auditing Cash - Applying Basic Skills to the Starting Point of Any Audit
  7. Auditing PP&E, Including Leases under Topic 842 - Digesting the Risks of Improper Treatment of Tangible Long-Lived Assets
  8. Auditing Inventory - Performing Required Observations and Other Common Procedures
  9. Analytical Procedures - Comprehending Financial Statement Audit Fundamentals
  10. Audit Reporting Fundamentals - Introducing Core Concepts in the Audited Financial Statement Drafting and Issuance Process
  11. AICPAs Code of Professional Conduct - Exploring the Foundational Principles Underlying the CPA Profession as a Whole
  12. Accounting Update - Hot Topics for Preparing Current Period Financial Statements
  13. Auditing & Attest Update - Hot Topics for Current Period Audits and Other Attest Services
6 Reviews (15 ratings)


Anonymous Author
The exam wss a but harder. Vouching was not discussed really snd the question asked about viuching snf tracing.

Anonymous Author
I liked the questions after the lessons. I think this course would be beneficial for all auditors

Anonymous Author
The Instructor explanations was great on the audit, review and compilation engagements

Anonymous Author
Good overview of the differences in engagements and the levels of service provided.

Member's Profile
A lot in this course, more comparison charts of differences would be helpful

Anonymous Author
This course was informative and a great way to jog my memory.

Course Complexity: Foundational

No Advanced Preparation or Prerequisites are needed for this course.
Designed For: Accountants who provide attest services, such as compilations, reviews, and audits.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Questions and Answers1 Question
User picture

I agree that this course is helpful! But I have the same question as Audit Staff from Jan 4, 2024. The exam question about reasonable assurance has an incorrect answer. Should be audit only.

Instructor for this course
Course Syllabus
  Learning Objectives for Adapting to The Engagement1:18
  Best Practices for Non-Attest Services16:14
  Exercises Non-Attest Services Risk14:25
  Section 70, Preparation of Financial Statement15:38
  Section 80, Compilation Engagements11:30
  Section 90, Review Financial Statement12:47
  Section 90, Review Financial Statement Cont'd12:58
  Basis for an Audit3:50
  Exercise - Adapting to the Scope of Services11:30
Continuous Play
  Adapting to the Engagement - Differentiating the Requirements of Preparations, Compilations, Reviews, and Audits1:40:10
Supporting Materials
  Slides: Adapting to the Engagement - Differentiating the Requirements of Preparations, Compilations, Reviews, and AuditsPDF
  Adapting to the Engagement - Differentiating the Requirements of Preparations Glossary/IndexPDF
Review And Test