Audit Engagements - Update 2021 (OC)
Review recent revisions to the CPA Canada Handbook–Assurance and other practice matters that have occurred over the last year.
Auditors require continual knowledge of changing standards and practice issues. The seminar reviews recent revisions to the CPA Canada Handbook–Assurance and other practice matters that have occurred over the last year.
In addition to comparing new and revised assurance and other related service standards, the seminar provides an overview of projects in progress and other developments of interest to practitioners, including national issues that have been identified by practice advisory and/or practice inspection. The seminar focuses exclusively on changes to audit standards. Changes to other assurance standards are not addressed.
WHO WILL BENEFIT:
Practitioners serving small and medium-sized private or not-for-profit entities. All accounting professionals performing audits that wish to advance their knowledge.
By the end of this course, participants should be able to:
- Understand the revisions to CAS 315 Identifying and Assessing the Risks of Material Misstatement effective for audits of financial statements for periods beginning on or after December 15, 2021.
- Understand how the proposed quality management standards will impact their firm and engagement processes.
- Develop an approach to reporting on Key Audit Matters for reporting issuers.
- Anticipate pending changes to audit standards and understand how the changes may impact audit engagements.
- Be aware of and locate tools to assist with audits.
Topics covered in this course include:
- introduction and overview of recently revised standards that apply to audits
- exposure drafts and other projects in process for audits
- practice matters, including highlights from national practice inspection findings and practice advisory comments for auditors
Participants should have a working knowledge of the CPA Canada Handbook – Assurance.
COURSE LEADER: BRIDGET NOONAN, CPA, CA