It is important the practitioner is fully aware of the key considerations of review engagements, before they accept them.
This course provides key information about when a review can be performed instead of an audit, the current legislative/regulatory requirements relating to review engagements and the key considerations to be aware of at each stage in a review.
Key topics:
- The objectives of a review of financial information
- Entities that can elect to have a review under legislation
- Independence
- Matters to consider before a review engagement is accepted
- Is a review the best approach?
- Performing the review engagement
- Evaluation of material misstatements
- The review report
- Modified review conclusions
- What else do I need to know?
This one hour online course forms part of the FastClass short course suite.
Learning objectives
- Decide when a review engagement is appropriate
- Describe which entities can elect to have a review rather than an audit
- Apply the essential elements of a review engagement
- Outline the considerations in each stage of a review
- Identify which AUASB review standard is appropriate for each type of review engagement
Audience
Public practitioners and auditors who audit small businesses and not for profit entities.
