Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This workshop will assist firms that practice exclusively in the non-assurance area to understand, apply, and document their System of Quality Management (“SOQM”) in accordance with the new standard CSQM 1. The participants will identify quality objectives, risks, and responses for a few of the quality objective components during the workshop by completing various workshop-developed forms that have been, in some instances, adapted from the Digitized Quality Management Guide – QMG Cloud (QMG). This course will also demonstrate the application and documentation of the monitoring and remediation process.
This workshop requires active participation by those in attendance. It is a hands-on experience where participants must be actively involved in building their firm’s QMG. Participants are expected to have some knowledge of the new standard, as the objective is to assist the participant in applying the requirements. Participants will gain experience identifying quality risks and responses and how to start tailoring a monitoring and remediation process applicable to their firm.
The delivery of the material takes the participants through various forms and how they interact with each other to meet the requirements of CSQM 1. During the course, participants will be given time to begin to develop their own QMG documentation. The course is not intended for the participants to complete the documentation of their SOQM but to introduce a methodology that can be used to complete their documentation after the workshop.
Topics Include:
- The firm’s leadership roles and responsibilities.
- The eight components of CSQM 1.
- The engagement-specific quality management requirements in CSRS 4200.
- The nature and circumstances of the firm and its engagements.
- Identifying and assessing quality risks.
- Developing responses for identified quality risks, including using a sample of responses adapted from the QMG.
- The monitoring and remediation process, including an introduction to the development of the nature, extent and timing of monitoring activities.
- Assessing a deficiency as to its severity, pervasiveness and root causes and determining a remedial action.
- Who can be a monitor?
- The documenting the requirement for the annual evaluation of the SOQM.
NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.
Schedule
- October 23, 2024, 8:30 a.m. - 12:30 p.m.
- October 24, 2024, 8:30 a.m. - 12:30 p.m.
Key Takeaways
By the end of this course, participants should be able to:
- Describe the requirements of CSQM 1.
- Apply the requirements of CSQM 1.
- Build and improve their firm’s SOQM after the workshop as a result of the hands-on experience.
- Achieve the documentation standards of CSQM 1.
- Describe alternative ways to document their SOQM.
Who Will Benefit
This course is intended for non-assurance practitioners or firms.
How to Access the Course
This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.
Electronic material can be accessed one week prior to the course and should be downloaded in advance.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Francis (Frank) Seguin, CPA, CA, LPA is a Director with Raymond Chabot Grant Thornton Consulting Inc. with over 18 years' experience providing accounting, auditing, advisory and consulting services to governments and not-for-profit organizations. Most recently, he was the Deputy Chief Financial Officer at St. Michael's Hospital in Toronto, overseeing a team of over 40 professionals on all aspects of Finance. Prior to joining RCGT CI, Francis worked at a Big 4 Firm as well as within the Government of Canada; he also lectures on a part-time basis, having lectured at the bachelors’ and graduate levels in the Université du Québec en Outaouais and the University of Ottawa.