Financial Statement

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ACPEN Signature: 2021 Financial Statement Preparation, Compilation & Review Update

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This course is designed to assist CPAs who perform financial statement preparation, compilation, or review engagements. Our panelists will provide an in-depth examination of the SSARS, including the new SSARS No. 25, and will provide practice tips that will assist you in performing profitable standard compliant engagements.

Basic Course Information

Learning Objectives

• Explain the requirements of the SSARS
• Review common peer review findings and SSARS application issues
• Share best practices for preparation, compilation and review engagements

Major Subjects

• Preparation Engagements
• Compilation Engagements
• Review Engagements

Laura A. Billingsley, CPA, MS Acc, MEd, is an executive editor of PPC products for the Tax & Accounting business of Thomson Reuters in Carrollton, Texas, where she is responsible for the technical content and annual update of several PPC products. She is a coauthor of PPC’s Guide to SSARS Preparation Engagements, PPC’s Guide to PCAOB Audits, PPC’s Guide to Religious Organizations, PPC’s Practice Aids for Audits of Oil and Gas Entities, and PPC’s Guide to Fraud Risk Assessments; and a contributing author to PPC’s Guide to Compilation and Review Engagements, PPC’s Guide to Managing an Accounting Practice, PPC’s Guide to Write-up Services, PPC’s Guide to GAAS, PPC’s Guide to Audits of Financial Institutions, PPC’s Guide to Dealerships, and The PPC Accounting and Auditing Update newsletter. She has been an observer at the AICPA Accounting and Review Services Committee meetings for over 17 years. Before joining Thomson Reuters, she was a senior audit manager at PricewaterhouseCoopers LLP, where she managed attest, business assurance, and consulting engagements for both small business and public company clients. Ms. Billingsley is a member of the American Institute of Certified Public Accountants. 

James A. Smith, CPA, CGMARelated seminars and products: 11

Managing Director

Smith, Jackson, Boyer & Bovard, PLLC

JAMES A. SMITH, CPA, CGMA, serves as Managing Director of Smith, Jackson, Boyer & Bovard, PLLC, a Dallas based, full service Certified Public Accounting firm.  In his forty-seven years of professional experience, he has performed audit engagements in real estate development and construction, investment partnerships, manufacturing, utilities, retail, transportation, and health care.  He has worked with companies ranging in size from large, multinational corporations to small, closely held businesses.  He has also been engaged extensively in tax and financial planning consultations for closely held businesses and their owners; tax compliance and tax controversy representation.

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, 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.  He has made presentations on analyzing financial statements for the reporting staffs of the Dallas Morning News, Dallas Business Journal, Wall Street Journal, and San Antonio Express.  He has also made CPE presentations on SSARS standards for the Illinois Society of CPAs, the Texas Society of CPAs, the Dallas Chapter of TSCPA, the Southeast Texas Chapter of TSCPA, and others.

Mr. Smith served as Chair of the Texas Society of CPAs (TSCPA) for the 2007-2008 year, as an elected member of its Executive Board and its Board of Directors, and as Treasurer and Treasurer-Elect. He served as an elected member of the AICPA Council 2007 through 2011 and 2012 through 2015.  He also served as an appointed member of two of the AICPA’s key standard setting committees:  the Accounting and Review Services Committee, 2008 through 2011 and the Tax Practice Responsibilities Committee, 2014 to 2018.  He has served as Chair of the Dallas Chapter of TSCPA (DCTSCPA) for the 2002-2003 year and a member of its Board of Directors.  He has served the TSCPA as Communications Subcommittee Chair of the Federal Tax Policy Committee, Attestation Subcommittee Chair of the Professional Standards Committee, Chair of the External Relations Steering Committee, Chair of the Strategic Planning Committee, Chair of the MAP Future Issues Committee, Sub-Committee Chair of the Quality Review Committee, and Chair of the Public Practice Association.  In recognition of his service, Mr. Smith has been named an Honorary Fellow of the TSCPA in 2017, presented with its Meritorious Service to the Accounting Profession in Texas Award in 2013, and had been named Outstanding Steering Committee Chairman for the year 1999-2000, Outstanding Committee Chairman for the year 1995-1996, and Outstanding Committee Member for the Years 1992-1993 and 1995-96.  The DCTSCPA also named him CPA of the Year for 1999-2000.

Mr. Smith is a graduate of Southern Methodist University with a BBA in Accounting and Economics.  He is a Certified Public Accountant in the state of Texas and is a licensed Registered Investment Advisor.

Mr. Smith resides in Dallas with Charlie, his wife of 49 years. They have three grown daughters, all of whom are married, a grandson and three granddaughters.

Kelly J. Hunter, CPARelated seminars and products: 2

Fitts Roberts Kolkhorst & Co. (FRK & Co.)

Kelly J. Hunter, CPA is the Chief Operating Officer and shareholder in charge of the audit department of Fitts, Roberts, Kolkhorst & Co., P.C., a CPA firm in Houston, Texas and has been with the firm since 1999.

He is a current member of the AICPA’s Professional Ethics Executive Committee (PEEC) as well as a former member of the Accounting and Review Services Committee of the AICPA from 2014-2016 and a former member of the AICPA PCPS Technical Issues Committee from 2011-2014. 

He is also a member of the Board of Directors for the Texas Society of CPAs (TXCPA) as well as the President-Elect of the Houston Chapter of the TXCPA.  He is currently the chair of the CPE advisory board for the TXCPA.

He has authored and co-authored educational courses for the AICPA including the Annual Update and Practice Issues for Preparation, Compilation, and Review Engagements (CORU).  He was also the primary author for the 2015 version of the AICPA Audit and Accounting Guide, “Preparation, Compilation and Review Engagements” which is the version that was completely revised by the issuance of SSARS No. 21, Statements on Standards for Accounting and Review Services: Clarification and Recodification.

Kurt G. Oestriecher, CPARelated seminars and products: 5

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.

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