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SSARS 21: Practical And Professional Liability Considerations

Webinar: ID# 1016934
Recorded CD
Qty:
SSARS 21: Practical And Professional Liability Considerations
About This Course:
Learn about the most recent SSARS 21 pronouncement, enhanced with a professional liability perspective.

This training session covers the new standard and the pros and cons of this dramatic change in financial reporting, as well as its potential effect on professional liability claims.

These two perspectives will expand your focus and knowledge on implementing SSARS 21 services in your practices.


AGENDA

Organization of SSARS 21
  • Section 60 - General Principles for Engagements Performed in Accordance With Statements on Standards for Accounting and Review Services
  • Section 70 - Preparation of Financial Statements (a New and Very Different Service)
  • Section 80 - Compilation Engagements
  • Section 90 - Review of Financial Statements
Objectives and Requirements of Each SectionImplementation Strategy
Claims Size Frequency and Severity Regarding Compilation Services
    Historical Claims in Compilation Services
    • Failure to Detect Fraud
    • Disclosures
    • Substantially All Disclosures Omitted
    • Use and Distribution
    • SSARS 1
    OCBOA
      SSARS 8
        Engagement Letter Strategies
        • Fraud Disclaimer
        • Restrictions on Use
        • Venue
        • Limitation on Liability
        • ADR
        SSARS 21
        • Will It Help Reducing Claims?
        • Will It Cause an Increase in Claims?
        • Best Practices
        About The Presenters

        John Raspante, CPA, MST, CDFA
        • Senior vice president director of risk management
        • Former director of compliance and risk management as well as the director of education for Graf Repetti and Co. LLP, Certified Public Accountants and Business Advisors
        • Worked almost a decade for CAMICO Mutual Insurance Company
        • Serves on NYSSCPA’s Compilation and Review Committee, NJSCPA’s Compilation and Review Committee, NJSCPA’s Editorial Board and the Accounting and Auditing interest group as well as the National Conference of CPA’s Ethics Committee
        • Frequent writer and speaker within the accounting profession on issues relating to risk management
        Robert I. Schindler, CPA
        • Partner in charge of the accounting and audit practice of Cavalcante & Company, LLC
        • Certified Public Accountant - New York
        • Certified in Financial Forensics
        • Chartered Global Management Accountant
        • Admitted as an audit partner at the age of 32 in a CPA firm that became one of the largest single office CPA firms in New York City
        • Audit partner in a multioffice regional CPA firm; member of its Accounting and Auditing Standards Committee, responsibilities included establishing the firm’s policies and procedures for its assurance practice
        • Co-wrote the firm’s Financial Statement Preparation Guide and its Accounting and Auditing Manual
        • Chairman of the firm’s Continuing Professional Education (CPE) Committee, Committee responsibilities included establishing the firm’s internal CPE programs that meet the various AICPA, State Society and PCAOB requirements
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        SSARS 21: Practical And Professional Liability Considerations
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