CPA's Guide to Effective Engagement Letters

13th Edition. By Ric Rosario, CPA, CGMA; Ron Klein, JD; and Suzanne M. Holl, CPA

CAMICO is pleased to announce the newest edition of CPA’s Guide to Effective Engagement Letters!
The 13th edition of the book provides the information needed to compose effective engagement letters. The book is a practical, hands-on tool that can sit on the CPA’s desk for easy access. The CPA’s Guide is composed primarily of annotated parts of an engagement letter and full engagement letters that CPAs can adapt to fit their particular situation and engagement details. The book has been compiled and edited with resources from CAMICO, and the commentary, including pitfalls to avoid, is based on the experience of actual CPAs.


TO ORDER
The CPA’s Guide to Effective Engagement Letters, 13th Edition — available from Wolters Kluwer
Go to: https://www.cchcpelink.com/book/cpa-s-guide-to-effective-engagement-letters-13th-edition-prod-10016983-0007/13770/
Receive a 25% discount: $265.00 $198.75 (plus shipping/handling and state tax). Discount code: USTP-BXGG123619



CPAs Guide to Effective Engagement Letters (13th Edition) has been updated throughout, including:
  • Updated language in tax engagement letters to address the Tax Cuts and Jobs Act ("Tax Act").
  • New tax letters, including income tax planning for businesses related to the Tax Cuts and Jobs Act ("Tax Act").
  • Updated partnership and LLC engagement letters to address the new IRS partnership audit rules effective for partnership tax years beginning in 2018.
  • Additional clauses for consideration to address issues related to virtual currency, use of third-party cloud service providers, and more.
  • New letter on rendering tax preparation services to clients in the cannabis industry
  • Updated review, compilation and preparation letters that comply with SSARS No. 23, Omnibus Statement on Standards for Accounting and Review Services—2016.
  • New compilation letter template to be used if the accountant decides to accept responsibility for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of the financial statements as allowed under SSARS No. 23.
  • Updated letters for prospective financial statements (forecasts and projections) that comply with SSARS No. 23.
  • Updated language for the attestation engagement letters that complies with SSAE 18.

Also included in the 13th Edition are new and updated case studies. Several of them are offered in a multiple-choice format, with answers and feedback for incorrect responses. Topics include the following:
  • Test your cyber IQ
  • FBAR reporting
  • Potential data breach of tax files
  • Employee fraud
  • A set of three ethical dilemmas
  • Voicemail/e-mail fraud and investment advisory services
  • Embezzlement involving a firm merger and audit services

The book is formatted so that the left-hand column contains suggested engagement letter wording pertaining to a specific subject and the right-hand column offers commentary and important advice. The suggested wording has been compiled and edited with resources from CAMICO, and the commentary, including pitfalls to avoid, is based on the experience of actual CPAs.