Review engagements are by far the most popular method by which practitioners provide assurance on information produced by their privately-owned clients. However, many practitioners are concerned about changes made in 2017 to the review engagement standards and the impact of those changes on providing review services.
This half-day presentation is intended to provide an in-depth study of the new requirements of the CPA Canada Assurance Handbook regarding review engagements which became effective in December 2017. Topics to be addressed will include:
• Overview of the new standards
• Pre-engagement requirements
• Materiality and understanding the entity and its environment
• Minimum procedures required in all review engagements
• Customizing review procedures to meet client needs
• Evaluating evidence and concluding the review
• Issuing the review engagement report
This course will provide a step-by-step approach and practical suggestions intended to increase efficiency and reduce risk in the performance of review engagements.
In addition to the course material discussed during the presentation, supplemental material will be provided containing sample required correspondence and examples of review engagement reports under the new standards.