Audit – Update (previously Assurance standards – Update 2019)
What is the difference between the types of e-learning activities?
- A webinar is a live training activity which you must attend at the date and time indicated. You may access the training platform in your online file 7 days before the date of the webinar. We strongly recommend that you log in to the platform before the date of the webinar and follow the instructions in step 3 of your training path beforehand in order to test your computers’ configuration and prevent any connexion problems during your training activity.
- Web conferences, web interviews, interactive training activities, webcasts and online training activities are recorded training activities. They can be accessed at all times after their availability date.
Please note that for 2020, this course will only address changes to the Canadian audit standards. See the complementary activities section below for activities related to other types of engagements.
General objectiveIn addition to comparing new and revised audit standards, this 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. This seminar focuses exclusively on changes to audit standards.
By the end of this training activity, participants will be able to:
- apply the revisions to CAS 540 Auditing Accounting Estimates and Related Disclosures effective for audits of financial statements for periods beginning on or after December 15, 2019;
- identify and apply 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 your firm and engagement processes;
- develop an approach to reporting on Key Audit Matters;
- 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.
- Introduction and overview of recently revised standards that apply to audits
- Specific coverage of auditing accounting estimates
- Exposure drafts and other projects in process for audits
- Practice matters, including highlights from national practice inspection findings and practice advisory comments for auditors
- Awareness of tools available to assist auditors
This training activity will benefit all accounting professionals performing audits but will particularly appeal to practitioners serving small and medium-sized private or not-for- profit entities.
Participants should have a working knowledge of the CPA Canada Handbook – Assurance.
Practitioners who wish to get an idea of the main requirements of the new Canadian Related Service Standard (CSRS) 4200 are also invited to attend the Compilation engagements – Overview of the new standard (CSRS 4200) training activity.
Practitioners who wish to deepen their knowledge regarding the completion and documentation of a compilation engagement according to the new standard are also invited to attend the Compilation engagements – Application of the new CSRS 4200 training activity.
Practitioners who wish to discuss the common application issues for review engagements under the new CSRE 2400 standard are also invited to attend the Review engagements – Specific topics training activity.