Preparation, Compilation, & Review Engagements & Reports

Preparation, compilation, and review engagements refer to services offered by accountants to assist businesses in presenting financial statements without providing assurance on the statements' accuracy. In a preparation engagement, an accountant assembles financial data into financial statements, while compilation involves arranging data into a coherent financial format without verification. Review engagements require the accountant to perform analytical procedures and inquiries to provide limited assurance that no material modifications should be made to the financial statements.

Lesson Videos

Preparation, Compilation, & Review Engagements & Reports Overview Preparation, Compilation, & Review Engagements & Reports Objectives Introduction to Preparation, Compilation, and Review Engagements and Reports Predecessor and Successor Auditors Review Engagements Interim Reviews Preparation Engagements Compilation Engagements Omitting Substantially All Disclosures Recap of Engagement Types Preparation, Compilation, & Review Engagements & Reports Summary Preparation, Compilation, & Review Engagements & Reports Practice Questions

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