The purpose of this course is to inform the reader of the various changes made to the compilation and review codification by the issuance of SSARS No. 25,  Materiality in a Review of Financial Statements and Adverse Conclusions,  include changes made to AR-C 60- General Principles, AR-C 70- Preparation of Financial Statements, AR-C 80- Compilation Engagements, and AR-C 90- Review of Financial Statements.    Topics include expanding use of the disclaimer report in a preparation engagement, changes involving the reporting on the contractual basis of accounting,  new requirements to define materiality in a review engagement, expanded inquiries and management representations in a review engagement,  the new modified conclusions, guidance on going concern in a review engagement, and more.

The course addresses the three types of engagements that can be performed under the SSARSs: a preparation of financial statements engagement, a compilation engagement, and a review engagement.