Review engagements – Application of the standard
See all sessions for this activity for the season 2019-2020
General objective
Using extracts of a review engagement file for a fictitious entity, this activity, which is aimed at an experienced clientele, allows the participant to deepen their knowledge of the requirements and to benefit from practical advice in order to properly apply them.
Context
The new standard on review engagements CSRE 2400 is effective for reviews of financial statements and financial information for periods ending on or after December 14, 2017. This training activity is essential to experienced practitioners who have already taken note of the requirements of the new standard CSRE 2400.
Objectives
At the end of this training activity, the participant will be able to:
- consider practical advice to optimize the planning of the engagement;
- identify areas in the financial statements where material misstatements are likely to arise;
- develop strategies for key steps of the engagement and for specific sections;
- identify specific issues related to the implementation of the requirements.
Topics
- Preliminary considerations
- Identifying areas in the financial statements where material misstatements are likely to arise
- Planning
- Understanding the entity and its environment
- Materiality
- Analytical procedures
- Implementation and conclusion of the engagement
- Work required (responsibilities)
- Specific topics
Training format
Lectures and practical examples
Target audience
CPAs in public practice
Prerequisite
It is recommended to have a good knowledge of the standard CSRE 2400 before enrolling in this activity.