Notice to Reader engagements are frequently the most common type of engagements performed by independent public accountants. They are often favoured due to their cost-effectiveness to meet client needs. However, practitioners commonly underrate the professional requirements of compilation engagements resulting in both legal and professional difficulties. This is particularly the case in the compilation of forecasts and other future-oriented information.
This half-day course has been designed to highlight the professional requirements of the compilation of both historical and future-oriented information. Its objective is to enable a practitioner to properly perform all required procedures while maintaining the cost-effectiveness of a Notice to Reader.
The course will include the following topics:
• Rules of professional conduct relating to compilations
• Independence requirements and solutions
• Historical Information – Compilation engagement requirements
• Future Information – Different engagement requirements
• Possible changes to compilation rules
• Post-issuance risk management
Included with the course material are sample engagement checklists for the compilation of both historical and future information to ensure adequate documentation in a Notice to Reader file.