This course provides a foundation in the practical application of the Canadian Auditing Standards (CAS) to audit engagements. Using a case study approach, the course reviews key CAS requirements and examines areas identified as common pitfalls by CPA national practice inspection findings.

This course provides a solid foundation in the practical application of the Canadian Auditing Standards (CAS) to audit engagements. Participants are given an opportunity to build on their understanding of the standards, with an emphasis on areas identified as common pitfalls in national practice inspection findings. Using a case study approach, participants practice applying the standards to a set of client-specific facts. The case study is based on the audit of a moderately complex for-profit private company. Participants will also explore the key elements of documenting an engagement working paper file including, planning, engagement execution, and reporting.

Topics Include:

• Introduction  
• Audit Quality
• Communication with Others 
• Audit Documentation   
• Acceptance and Overall Audit Strategy
• Risk Assessment Procedures including Internal Control
• Performing Audit Responses
• Conclusion and Reporting
• Wrap Up

NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.

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By the end of this course, participants will be able to:

• Identify common pitfall areas in audit engagements as noted by national practice inspection findings.
• Demonstrate the application of key CAS requirements using a set of case study facts.
• Recognize key items to be documented in an audit engagement working paper file.