Recently issued SSARS 27, Applicability of AR-C Section 70 to Financial Statements Prepared as Part of a Consulting Services Engagement, will significantly change the way public accounting firms assist in the preparation of financial statements. This program will discuss the practical implications of the standard, how it can affect the need to adhere to SSARS standards, peer review applicability, and how CPAs can help businesses using the Consulting Standards instead of SSARS.
Learning Objectives
• Recognize the new standards.
• Identify how CPAs can structure previous SSARS engagements as consulting services.
• Determine how financial statement preparation may no longer be subject to peer reviews.
Major Topics
• General requirements for SSARS engagements
• Unique opportunities for preparation engagements
• New opportunities created with SSARS 27
• The AICPA Consulting Standards
• The relevance of Peer Review on SSARS and Consulting engagements
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