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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Accounting

Date & Time
  • event Date

    Tuesday, April 25, 2023

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    110 minutes

Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

$197.00
CPE
ALL

This webinar will discuss agreed upon procedure (AUP) engagements and the related Statement on Standards for Attestation Engagements (SSAE) No. 19. Our panel of auditing experts will discuss the best practices for firms offering these attestation services.

Faculty

Jason Miller
Partner
Anglin Reichmann Armstrong, PC

Mr. Miller is a Partner in the Audit and Assurance group at Anglin Reichmann Armstrong with over 15 years’ experience in public accounting. As leader of the firm’s peer review practice, he helps support and enhance the audit quality and efficiency for Anglin and the audit practice of other firms around the country. Mr. Miller specializes in audit and assurance services, such as: audits, reviews, compilations, preparations, agreed upon procedures and examinations. He also provides consulting and data analytic services to non-profit, manufacturing and other commercial entities. In addition to these services, Mr. Miller consistently researches the latest audit and assurance guidelines to better support clients in the future. He also plays a critical role in the firm’s research into technology, software packages and data analytics to support clients moving forward. Mr. Miller’s industry focus includes biotechnology, employee benefit plans, government contracting, information technology, manufacturing and not-for-profit agencies.   

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Meg Hampton
Partner
Anglin Reichmann Armstrong, PC

Ms. Hampton is a Manager in the Audit and Assurance Department. She attended the University of Alabama, where she earned a Master of Accountancy in 2009 and a Bachelor of Science in Accounting, graduating cum laude in 2008. Ms. Hampton has over 12 years of experience in public accounting, providing audits, reviews, compilations, and preparations of financial statements to clients in various industries. She is certified as a Peer Review Captain and works with the peer review team to provide value to firms around the country. In addition to these services, Ms. Hampton has several years of experience in solutions and tax and provides support to clients in these areas. Her industry focus includes government contracting, employee benefit plans, construction, and not-for-profit agencies.

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Description

As stated in SSAE No. 19, "an agreed-upon procedures engagement is an attestation engagement in which a practitioner performs specific procedures on subject matter and reports the findings without providing an opinion or conclusion. The subject matter may be financial or nonfinancial information. Because the needs of an engaging party may vary widely, the nature, timing, and extent of the procedures may vary, as well."

The nature of these engagements creates a need for flexibility, which the ASB has incorporated in SSAE No. 19. AUP engagements often evolve as performed. The standard allows the development of procedures over the course of the AUP by allowing the engagement party to acknowledge their satisfaction with the procedures before issuance of the general use report. Examples of general use reports are included in SSAE No. 19, along with acceptable and unacceptable terms. Words such as evaluate, examine, and general review are deemed unacceptable, while inspect, compare, and agree are condoned.

AUPs are designed to meet a specific need that a full-fledged audit cannot address. Auditors need to understand AUPs and the SSAE now since the effective date is imminent and early implementation is permitted.

Listen as our panel of auditing experts explains SSAE No. 19 from the initial engagement to the issuance of the general use report, including recommendations for efficiently completing AUPs for CPAs performing limited assurance engagements.

Outline

  1. Agreed upon procedures
  2. AUPs and SSAE No. 19
    • Terminology
    • Independence
    • Engagement
    • Documentation
    • Representation letter
    • General use report
    • Other changes and considerations
  3. Best implementation practices

Benefits

The panel will review these and other critical issues:

  • How the general use report should be prepared and structured under SSAE No. 19
  • What are independence concerns when accepting an AUP engagement?
  • What is the difference between an engaging party and a responsible party?
  • When should a CPA consider withdrawing from an AUP engagement?
  • How and when is the engaging party's consent received for AUP services under SSAE No. 19?

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Identify terminology initiated under SSAE No. 19
  • Determine which clients are candidates for AUPs
  • Decide when an AUP may be a worthwhile alternative to an audit
  • Ascertain changes made to the timing of the acceptance of the engagement by SSAE No. 19

  • Field of Study: Accounting
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience at mid-level within the organization; supervisory authority over other preparers/accountants. Specific knowledge and understanding of compiled, reviewed, and audited financial statements and accounting standards.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.