A major concern of public accounting practitioners is their ability to perform professional engagements in a manner which will satisfy required practice inspections.
The objective of this half-day course is to reduce practitioners’ risk of serious deficiencies being discovered by practice inspectors in engagement files. This will be done through the highlighting of engagement requirements that have been found to be common areas of deficiency in Ontario practice inspections over the past year.
Topics to be discussed during this presentation include:
• An overview of the 2017– 2018 Ontario practice inspection results
• Common deficiencies found by practice inspectors during that year relating to:
- Quality control policies and procedures
- Audit engagements
- Review engagements
- Financial statement presentation
In addition, this course will discuss the December 2018 revision of the Auditor’s Report as well as any other major changes to engagement standards made to the CPA Canada Assurance Handbook after 2017. (Details of the 2017 changes to standards for review engagements are discussed in a separate course dedicated solely to that topic.)