Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
There are some areas where the application of CSRE 2400 – Review Engagements can be challenging. This course builds upon fundamental knowledge of the CSRE 2400 – Review Engagements Standards and addresses areas that commonly prove more challenging for practitioners.
Drawing upon common deficiencies found nationally in practice inspections, this course will show participants how to quickly identify incomplete review engagement documentation and apply the necessary changes to resolve outstanding issues. The material includes various exercises and examples of review engagement documentation.
Note: This seminar focuses on specific topics, and does not provide comprehensive coverage of the Canadian Standard on Review Engagements (CSRE 2400).
Topics Include:
- An overview of the documentation requirements.
- Common CSRE 2400 application and documentation deficiencies noted by provincial CPA practice inspection programs.
- Tips for addressing common deficiencies, such as documenting client/engagement acceptance/continuance, assessment of independence, assessment of the need for EQCR, use of the correct review engagement report, and dating of the report.
- Understanding of the entity and its environment using alternative approaches to documenting the client’s accounting systems.
- Identification of areas in the financial statements where material misstatements are likely to arise and linking them to the planned review procedures.
- The design and documentation of appropriate analytical procedures for revenue, inventory, cost of sales, payroll, etc.
- When it may be appropriate to perform additional procedures, such as cut-off procedures, confirmations, and substantive testing of details.
NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.
Schedule
- January 21, 2025, 8:30 a.m. - 12:30 p.m.
- January 28, 2025, 8:30 a.m. - 12:30 p.m.
Key Takeaways
By the end of this course, participants should be able to:
- Identify the common deficiencies in applying CSRE 2400 as noted by the various provincial practice inspection programs.
- Determine the appropriate level of documentation for understanding the entity and its environment and identifying areas of the financial statements that are likely to be materially misstated.
- Link the assessed areas of likely material misstatement to appropriate review engagement procedures.
- Develop and perform appropriate analytical procedures and meet the documentation requirements of the standard.
- Better document inquiries and discussions with the client by demonstrating professional skepticism.
- Determine when it may be appropriate to perform additional procedures in accordance with the standard.
Who Will Benefit
This course is intended for public practitioners as well as managers and senior staff members employed in public practice who are conducting review engagements under CSRE 2400.
Prerequisite(s)
It is recommended that participants previously take the Reviews: Overview of the Standard (CSRE 2400) course, or have equivalent working knowledge of CSRE 2400.
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)
Shari Mann, CPA, CA is a lecturer at the University of Waterloo, president of Strann Consulting Inc. and a member of the Private Enterprise Advisory Committee. Prior experience includes over ten years in public practice, both in Canada and New Zealand. In one of her positions, Shari was responsible for staff training, standards and quality control at a national firm. Her consulting activities include the preparation and presentation of numerous professional development courses in financial accounting and assurance. Complementary activities include the provision of professional services to small and medium-sized accounting firms.