CPE Session 17: Saturday, August 2, 1:00 PM – 4:30 PM

The Latest in Compilations, Reviews and OCBOA

(Accounting - Intermediate)

[SESSION CANCELLED]

Description/Objectives:
The proliferation of new financial statement and audit standards has increased the cost of financial statement preparation to small companies as well as large publicly traded ones. This session will discuss the increase in the use of SSARS reports as an alternative to audits as well as an increased use of other comprehensive basis of accounting (OCBOA) financial statements.

In the past three years, there have been seven SSARS statements issued as compared to only nine issued in the previous 25 years. In addition, the AICPA’s Professional Ethics Executive Committee (PEEC) has issued many rulings, some controversial, on the role of the CPA in issuing these reports.

This session will give an overview of the new standards, rulings, interpretations and proposals that relate to companies that are not audited.

Presenter:
Kenn Heaslip, Bloomfield College

Note: CPE fields of study are in parentheses