Table of Contents

Chapter 1 - How to Conduct a Compilation Engagement 1

The Nature of a Compilation Engagement 1

Independence. 1

Management Responsibilities. 1

The Engagement Letter. 2

Accountant Responsibilities. 4

The Compilation Report 6

The Compilation Report when a Special Purpose Framework is Used. 8

The Compilation Report When the Accountant is Not Independent 9

The Compilation Report When Disclosures Have Been Omitted. 9

The Compilation Report When There Are Known Framework Departures. 9

The Compilation Report with Supplementary Information. 10

The Compilation Report with Required Supplementary Information. 11

Documentation Requirements. 12

Review Questions. 13

Chapter 2 - Preparation of Financial Statements. 14

The Preparation Engagement 14

Financial Statement Preparation. 16

Documentation of the Preparation Engagement 17

Review Questions. 18

Answers to Chapter Questions. 19

Glossary. 21

Index. 22

 

Final Examination…………………………………………………………………………………………………...24