Table of Contents

How to Conduct a Review Engagement 1

Engagement Acceptance Issues. 1

Client Acceptance of the Relationship. 2

Engagement Letter. 2

General Understanding of the Client 5

Analytical Procedures. 5

Comparison to Prior Period Information. 6

Comparison to Nonfinancial Information. 6

Comparison to Expectations. 6

Compare Disaggregated Revenue Information. 7

Use of Analytical Procedures. 7

Considerations Regarding Analytical Procedures. 7

Inquiries. 8

Additional Analyses. 9

Evaluation of Evidence. 9

Going Concern Considerations. 10

Subsequent Events. 11

The Representation Letter. 12

The Accountant’s Review Report 16

Variations on the Accountant’s Review Report 18

Special Purpose Framework. 19

Comparative Financial Statements. 19

Emphasis-of-Matter and Related Issues. 20

Known Departures from the Applicable Framework. 21

Restriction of Use Alert 21

Reference to the Work of Other Accountants. 22

Supplementary Information. 23

Required Supplementary Information. 24

Communications Regarding Fraud and Other Matters. 25

Changing from an Audit to a Review.. 26

Documenting the Review Engagement 26

Review Questions. 28

Answers to Chapter Questions. 29

Glossary. 32

Index. 34

 

Final Examination…………………………………………………………………………………………………...36