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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

    Thursday, May 8, 2025

  • schedule Time

    1:00 PM E.T.

  • 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

This course is $0 with these passes:

CPE
ALL

This webinar will walk accounting professionals through preparing an effective engagement letter. Our panel of accounting and auditing veterans will examine the required and optional sections of these agreements and offer suggestions for constructing these letters to facilitate engagements and deter future misunderstandings.

Faculty

Meg Hampton
Partner
Frazier & Deeter

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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Steve Sledge
Partner
Frazier & Deeter

Mr. Sledge, CPA, MAcc, brings over three decades of experience in audit, technical accounting, and leadership. Throughout his distinguished career, he has been recognized as a strategic problem-solver with deep expertise in financial statement audits, risk assessment, and client service team leadership. Mr. Sledge's background includes working with organizations of all sizes, from startups to large public companies, often within private equity ownership structures. He has a strong technical foundation in complex accounting matters such as business combinations, stock-based compensation, income taxes, and equity and debt transactions. Mr. Sledge's leadership extends beyond client engagements—he has mentored numerous professionals, facilitated training and CPE programs, and contributed to internal quality review programs to ensure compliance with professional standards.

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Description

According to the AICPA, "An engagement letter is a contract that establishes the services a practitioner will provide to their clients. Each engagement requires careful consideration to address its particular circumstances." Constructing an effective engagement letter defines the scope of an engagement, the specific services provided, and limits a CPA's exposure to risk.

The engagement serves as a contract between an accountant and a client, and it should be tailored to meet the specific requirements of a particular engagement. Bookkeeping services, tax return preparation, compiled, reviewed, or audited financial statements, and engagements for agreed-upon procedures all require unique engagement letters. There are key components of these letters that all should include. Outlining the client's and the CPA firm's responsibilities, engagement timing fee structure, and conditions for withdrawing from the engagement should all be included. Structuring an engagement letter properly can help avoid future issues and outline the agreed-upon steps to take in resolving conflicts that may arise. All CPAs need to understand the components of a properly prepared engagement letter and the consequences of not having this agreement in place.

Listen as our panel of accounting and assurance experts explains how to prepare engagements by service type, including appropriate language for unique engagements.

Outline

  1. Engagement letters: introduction
  2. Key components of an engagement letter
  3. When engagement letters are required
  4. Structuring engagement letters for specific services
  5. Engagement letters and dispute resolution
  6. Best practices

Benefits

The panel will cover these and other critical issues:

  • Structuring engagement letters for specific services
  • How engagement letters help mitigate future issues
  • Analyzing key sections of an engagement letter
  • When engagement letters are required

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  1. Identify key components of engagement letters
  2. Determine how engagement letters mitigate future liability
  3. Decide when engagement letters are required
  4. Ascertain how to construct an engagement letter for specific services

  • 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, preparing reviewed, compiled, and audited financial statements and the relative disclosures. Specific knowledge and understanding of GAAP, SSARS, and peer review policies.


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.