Implement the new compilation standard in an effective and efficient manner through establishing an approach, making business decisions and developing an action plan.
This course is unique as it focuses on application and implementation methodologies, not technical requirements. It is practical in its approach and will help ensure practitioners implement the standard in an efficient and effective manner.
Participants will develop an implementation action plan using the template provided as a course resource. Topics covered include the scope of the standard, tailoring the engagement letter based on intended use of the compiled financial information and drafting a basis of accounting note. The session will also address knowledge of the business and file documentation requirements from a practical perspective.
Guidance on other matters such as communicating with clients and drafting the new engagement report will also be addressed.
By the end of the course participants will be able to: