Welcome to the Online Continuing Professional Education for Certified Public Accountants
offered through Santa Clara University, in conjunction with the Accounting CPE Network.

What's the ACPEN Difference?

The ACPEN Difference

The Accounting Continuing Professional Education Network (ACPEN) is a joint project of state CPA Societies and other affilliated organizations who have a common goal: improving the quality and accessibility of distance learning opportunities available to their members.

Others' Technology

Webinar technology has, for some time, been a common offering of many participating ACPEN associations. Combining powerpoint slides delivered via the internet with audio of the instructor, either by telephone or internet, the webinar format allows for the delivery of educational content in a convenient, but visually limited fashion.

ACPEN's Technology

The ACPEN network is founded on the use of streaming video content over the internet that provides the participant with live, full motion video of the presenter, high quality audio, along with coordinated powerpoint slides. The ACPEN platform, provided by Business Professionals' Network and its technology partner, BizVision, also allows the end user to fully participate in the webcast by downloading written materials, emailing questions to presenters in real time, making notes in the viewer "notes" area, and emailing those notes to themselves for later use.

ACPEN's Production Values

ACPEN programming features enhanced production values and formats appropriate to the video medium. Presenters interact with each other as well as you, the ACPEN participant. This delivers an educational experience that is engaging, interesting, as well as professionally rewarding.

It is this unique combination of valuable information delivered using interactive live, video and audio internet technology that define The ACPEN Difference.

About ACPEN

About ACPEN

The Accounting Continuing Professional Education Network (ACPEN) CPE network, sponsored by State CPA Societies in many states, is dedicated to bringing, highly relevant, interactive, world-class CPE to every CPA in the most convenient and economical ways possible. Founded by four state societies in 1997, ACPEN is now a consortium of nearly 40 state societies.

Since 1998, ACPEN has been owned and managed by Business Professionals' Network, a firm that is responsible for the development of CPE content, management of the network, and that ensures that the satellite and internet technology is and stays at the cutting edge, for the benefit of state societies and their member CPAs. More information about ACPEN course offerings can be found below.

Since 1997, ACPEN programs have covered all of the most important subjects for accounting, tax and financial professionals. This year, you can join the thousands of CPAs across the country who have a reserved seat to one of the most fascinating ways to earn CPE credits available anywhere! In addition to CPE content developed by BPN, increasingly, state societies are taking advantage of webcast technology, adding their content and speakers to the ACPEN offerings.

More information about ACPEN CPE products and technology, can be found in the ACPEN Products section.

Preview

ACPEN Signature Series: 2012 Compilation & Review Update

Length: 8 Hours

This course is designed to assist CPAs who perform compilation or review engagements. Our panelists will present a refresher on the performance of compilation and review engagements.  Current practice issues and the more advanced compilation and review topics will also be presented. The course provides valuable, practical advice that will benefit CPAs by helping reduce their liability risk, as well as helping ensure that they comply with peer review requirements.  The course addresses engagement administration issues such as determining whether the SSARS apply, engagement letters, independence issues, and workpaper documentation. The course also addresses compilation and review performance and reporting requirements.  

In addition, newly issued or soon to be issued Compilation and Review Pronouncements, including AR 80, Interpretation 17, Required Supplementary Information That Accompanies Compiled Financial Statements; AR 90, Interpretation 11, Required Supplementary Information That Accompanies Reviewed Financial Statements; TIS 9150.29, “Effects on Compilation and Review Engagements When Management Does Not Assess Whether the Reporting Entity Is the Primary Beneficiary of a Variable Interest Entity and Instructs the Accountant to Not Perform the Assessment;” TIS 9150.30, “Disclosure of Independence Impairment in the Accountant’s Compilation Report on Comparative Financial Statements When the Accountant’s Independence Is Impaired in Only One Period;” Proposed Clarified SSARS, Association With Unaudited Financial Statements; Proposed Clarified SSARS, Compilation of Financial Statements; and Proposed Clarified SSARS, Review of Financial Statements; will be discussed.


Major Subjects:
Engagement Administration:
Do the SSARS Apply?            
Accepting and Continuing the Engagement
Engagement Letters

Conceptual Framework for Independence:
No Independence Interpretations or Rulings
Required Documentation
Unacceptable Risk
Threats
Safeguards

ET Interpretation 101-3:
Period of Impairment
Cumulative Effect of Non-attest Services
Activities Related to Attest Services
Consideration of Whether to Document Client’s Skills, Knowledge, and/or Experience
Internal Audit Services

Compilation Procedures:
Management Use and Third Party Use
Knowledge of Business
Reading the Financial Statements
Documentation

Review Procedures:
Knowledge of Business
Evidence and Materiality
Analytical Procedures
Inquiries

Reading the Financial Statements
Representation Letters
Documentation

Financial Statements and Reports:
Form and Presentation of Financial Statements
Accountants’ Reporting Obligations
Reporting When Not Independent
Reporting When Substantially All Disclosures Are Omitted
Comparative Financial Statements
Departures From GAAP

New Compilation and Review Developments:
AR 80, Interpretation 17, Required Supplementary Information That Accompanies Compiled Financial Statements
AR 90, Interpretation 11, Required Supplementary Information That Accompanies Reviewed Financial Statements
TIS 9150.29, “Effects on Compilation and Review Engagements When Management Does Not Assess Whether the Reporting Entity Is the Primary Beneficiary of a Variable Interest Entity and Instructs the Accountant to Not Perform the Assessment”
TIS 9150.30, “Disclosure of Independence Impairment in the Accountant’s Compilation Report on Comparative Financial Statements When the Accountant’s Independence Is Impaired in Only One Period”
Proposed clarified SSARS, Association With Unaudited Financial Statements

Compilation Clarity Project:
Consistency with Auditing Standards
Differences Between Current Standard and Clarified Standard
Engagement Driven
Issuance of ED
Effective Date

Review Clarity Project:
Consistency with Auditing Standards
Differences Between Current Standard and Clarified Standard
Timing



 




This video is part of ACPEN Signature Complete Series
This video is part of A&A Basic
This video is part of A&A Deluxe

CPE Credits: 8

Ethics Credit (50): 1

Field of Study 1: Accounting (8 hours)

Field of Study 2: Regulatory Ethics - Non-state Specific (1 hours)

Program Level (Basic, Update, Intermediate, Advanced, Overview): Update

Prerequisites: None

Advanced Preparation: None

Instructional Delivery Method: Group Internet Based

Course Registration Requirements: Online Registration

Designed For: Public and Industry Practitioners

Course Developer: ACPEN

Refund/Cancellation Policy: Please contact the ACPEN help desk - 1-800-747-1719 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.

Complaint Resolution Policy: Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).

Official Registry Statement: Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org


Produced By:

ACPEN

Faculty

  • Laura A. Billingsley, CPA
    • Laura A. Billingsley, CPA, is a senior technical editor of PPC products for the Tax & Accounting business of Thomson Reuters, in Fort Worth, Texas, where she is responsible for the technical content and annual update of several PPC products, including PPC’s Guide to Compilation and Review Engagements, and PPC’s Checkpoint e-Tools. She is a coauthor of PPC’s Guide to PCAOB Audits, PPC’s Guide to Religious Organizations, and PPC’s Guide to Fraud Risk Assessment: Implementing SAS 99 and Related Guidance. Before joining PPC, she was a senior audit manager at PricewaterhouseCoopers LLP, where she managed audit, business assurance, and consulting engagements for a wide variety of domestic and international clients. Ms. Billingsley is a member of the American Institute of Certified Public Accountants. She has a M.S. degree in accounting, a Masters degree in education, and a B.S. degree with a major in mathematics.

  • James A. Smith, CPA
    • James A. Smith, CPA, serves as Managing Director of Smith, Jackson, Boyer & Bovard, PLLC, a Dallas based, full service Certified Public Accounting firm. Mr. Smith began his career with a major international accounting firm where he served in both the audit and tax divisions. Mr. Smith has appeared as a featured commentator on all four Dallas/Ft. Worth network news stations, including three and one-half years as a featured business commentator on KXAS, TV5; on the TSCPA “CPAs on Call” state wide tax television program; and on various radio news programs. He has conducted seminars on tax and financial planning for the Dallas Chapter of the TSCPA and stock brokerage firms and life insurance companies, and on marketing and practice management for the TSCPA, the North Carolina Association of CPAs, the Arkansas Society of CPAs, the Pennsylvania Institute of CPAs, and the American Institute of CPAs. Mr. Smith served as Chair of the Texas Society of CPAs (TSCPA) for the 2007-2008 year, and as a member of its Executive Board and its Board of Directors. He is currently serving a three year term as an elected member of the American Institute of CPAs (AICPA) Council and is an appointed member of the AICPA Accounting and Review Services Committee. In recognition of his service, Mr. Smith has been named by the TSCPA as Outstanding Steering Committee Chairman for the year 1999-2000, Outstanding Committee Chairman for the year 1995-1996, and Outstanding Committee Member for the Year 1992-1993 and 1995-96. The Dallas Chapter of the TSCPA also named him CPA of the Year for 1999-2000. Mr. Smith is a Certified Public Accountant in the state of Texas and is a graduate of Southern Methodist University with a BBA in Accounting and Economics.
  • Kurt G. Oestriecher, CPA
    • Kurt G. Oestriecher, CPA, is a partner with Oestriecher & Company, CPAs of Alexandria, La. He is the partner in charge of accounting and auditing services and is also involved in litigation support and small business consulting engagements.

Course Materials

  • ACPEN_Signature-Compilation_and_Review_Update-Manual
  • Important CPE Credit Information_2012
  • Course Outline-8/29/12- Subject to Change (2 pages)

* Please be advised that this is not a
Santa Clara University website, but is a website developed and hosted by ACPEN, in conjunction with Santa Clara University.