Description: Learn about the new 2011 and 2012 compilation and review professional standards, which represent the most significant changes to compilation and review services in over 30 years. Review pertinent, specially selected standards from earlier years.
• New compilation and review standards for 2012, including SSARS 19, Compilation and Review Engagements
• New issues about the accumulation of Review Evidence
• New issues about the concept of materiality for compilation and review engagements
• New issues in Compilation and Review engagement letters and review representation letters specified in SSARS 15-19
• An advanced look at documentation standards will be reviewed for changes required by new compilation and review standards
• Updates on previously issued standards that may still apply and their involvement with SSARS 19
• IASB and International Financial Reporting Standards status as applies to compilation and review engagements
• Further updates that impact compilation and review engagements that include: new Quality Control Standards (SQCS 7) and its requirements; status of “Mobility” issues combined with “Substantial Equivalency”; status of Peer Review and related regulatory problems; and changes in Florida Statutes and Florida Administrative Code
• Ethics Interpretation 101-3 will be explored for revisions and updates in attest/nonattest applications specifically dealing with compilation and review issues
• Any other matters deemed appropriate and timely
Cecil "Pat" Patterson, Jr., CPA is an award winning author, speaker, and discussion leader for continuing education courses and numerous state societies. His degrees include a Bachelor of Science in Accounting and a Master of Business Administration. In addition to being in charge of his own CPA firm for over thirty years, Mr. Patterson has experience at the national CPA firm level, at the corporate level as a chief financial officer, and as an adjunct professor at the university level.
His firm is involved in the full spectrum of CPA activities including auditing, accounting services, federal and state corporate and individual income tax preparation, and consulting services to clients, businesses, and other professionals. The AICPA recognized the firm for its work in the “virtual office” field.
• Member, American Institute of Certified Public Accountants (AICPA)
• Member, Florida Institute of Certified Public Accountants (FICPA)
• Member, Executive Committee
• Member, Board of Governors
• Member, MEGA CPE Conference Committee
• Member, Accounting Show Committee
• Trustee, Educational Foundation, Inc.
• Member and Former Chair, Continuing Professional Education Committee
Honors and Awards include:
• Outstanding Discussion Leader, FICPA
• Outstanding Author, FICPA
• Distinguished Discussion Leader, New York Society of CPAs
• Outstanding Committee Award, FICPA