OasisLMS

Engagement basics explained

You can learn the elements, performance requirements, and documentation expectations for engagements, such as:

• Preparation engagements
• Compilation engagements
• Review engagements

Although these procedures are not audits, they involve similar concepts at a lesser level of assurance.

Learning Outcomes

• Identify the detailed definitions and required elements of engagements to prepare financial
  statements or perform a compilation or review of financial statements.
• Recall the performance standards for an engagement to prepare financial statements or perform a
  compilation or review of financial statements.
• Recognize the minimum documentation requirements for an engagement to prepare financial
  statements or perform a compilation or review of financial statements.

Topics

• Definitions and elements
• Performance requirements
• Considerations for changes in a level of service
• Required documentation

Who Will Benefit

• Recently onboarded staff
• First-year staff
• Firms that want consistent training and level setting