Compilation engagements – Overview of the new standard (CSRS 4200)
A new standard concerning compilation engagements will come into effect for periods ended on or after December 14, 2021. Will you be ready?
- What engagement will be included in the new scope?
- Will the estimation of your fees consider the additional work to be done or documented according to the new standard?
- Will your clients be notified of the wording of the new compilation engagement report?
This training activity is a must in order to anticipate the repercussions of this new standard on your practice.
This training activity introduces the main requirements of the new Canadian Related Service Standard (CSRS) 4200 with an emphasis on its impact on the acceptance or continuance of the compilation engagement as well as its planning. It is intended for participants who wish to begin their preparation for the successful implementation of this new standard.
By the end of this training activity, participants will be able to:
- describe the main requirements of the new standard;
- assess the impact of the new standard on the acceptance or continuance as well as the planning of compilation engagements.
- New scope
- Requirements related to the acceptance and continuance of engagements
- Requirements for work to be performed
- New note on the accounting rules applied to the preparation of financial information
- New compilation engagement report
Lectures with real-life examples
CPAs in public practice
Considering that Section 9200 is still in effect until December 2021, practitioners who wish to adopt good practices in risk management, planning and execution of this type of engagement in accordance with the current standard, through the working documents of a fictional entity, are invited to attend the training activity Compilation engagement model file – Current standard.
Practitioners who wish to deepen their knowledge regarding the completion and documentation of a compilation engagement according to the new standard as well as receive practical advice while working with a model file, are also invited to attend the Compilation engagement model file with new CSRS 4200 training activity which will be offered in autumn 2020.