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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: May 03, 2021


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

Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
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 Syllabus
  1:18Learning Objectives for Adapting to The Engagement
  16:14Best Practices for Non Attest Services
  14:25Exercises-Non Attest Services Risk
  15:38Section 70, Preparation of Financial Statement
  11:30Section 80, Compilation Engagements
  12:47Section 90, Review Financial Statement
  12:58Section 90, Review Financial Statement Cont'd
  3:50Basis for an Audit
  11:30Exercise - Adapting to the Scope of Services
Continuous Play
  1:40:10Adapting to the Engagement - Differentiating the Requirements of Preparations, Compilations, Reviews, and Audits
Supporting Materials
  PDFSlides: Adapting to the Engagement - Differentiating the Requirements of Preparations, Compilations, Reviews, and Audits
  PDFAdapting to the Engagement - Differentiating the Requirements of Preparations Glossary/Index
Review And Test