ACC 645 Module Two Assignment Guidelines and Rubric

Overview

You are a newly hired auditor at an accounting firm, Sky Financials. On your first day on the job, your manager asks you to answer a few questions. You are told to answer these questions in the form of a video presentation or by writing a transcript that could be adapted into a video presentation. This assignment will explain the differences between SSARS engagements and how those differences might impact clients.

Directions

Use the knowledge you gained from this module's resources to make a video or video transcript directly responding to your manager's request and questions. (use provided references for answers)

1. Provide a brief overview of the primary objectives of CPA compilation engagements under SSARS. (provide a detailed overview)
2. Provide a brief overview of the primary objectives of CPA review engagements under SSARS. (provide a detailed overview)
3. Provide a brief overview of the primary objectives of Financial preparation engagements under SSARS. (provide a detailed overview)
4. Describe the task objectives that differentiate one SSARS engagement from another.
   1. CPA compilation engagements (provide a detailed description of task objectives)
   2. CPA review engagements (provide a detailed description of task objectives)
   3. Financial preparation engagements (provide a detailed description of task objectives)
5. Explain key differences and similarities between methodologies employed in different SSARS engagements.
   1. CPA compilation engagements (provide detailed differences and similarities)
   2. CPA review engagements (provide detailed differences and similarities)
   3. Financial preparation engagements (provide detailed differences and similarities)
6. Describe how methodologies contribute to the level of assurance provided by each type of engagement.
   1. CPA compilation engagements (provide detailed level of assurance)
   2. CPA review engagements (provide detailed level of assurance)
   3. Financial preparation engagements (provide detailed level of assurance)

Use references for answers:

• CPA compilation engagements:

https://us.aicpa.org/content/dam/aicpa/research/standards/compilationreview/downloadabledocuments/ar-c-00080.pdf

• CPA review engagements:

https://us.aicpa.org/content/dam/aicpa/research/standards/compilationreview/downloadabledocuments/ar-c-00090.pdf

• Financial Preparation engagement

https://us.aicpa.org/content/dam/aicpa/research/standards/compilationreview/downloadabledocuments/ar-c-00070.pdf