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Courses/Audit & Assurance/Audit and Assurance Update

Canadian Audit Standards (CAS) 2023 Update

Implementing CAS 315 and Navigating New CAS Standards.

Created byClearline Consulting
5.0
(36 reviews)
IntermediateUpdated Sep 29, 2024
Canadian Audit Standards (CAS) 2023 Update

What You'll Learn

check_circleUnderstand the implementation of CAS 315 (revised).
check_circleIdentify common deficiencies in CAS 315 documentation.
check_circleStay updated on new and incoming CAS standards.
check_circleReview key requirements for CAS 600 Group Audits.
check_circleExplore CAS 402 reliance on service providers.
check_circleLearn about audits for less complex entities and upcoming changes.

About This Course

This "Canadian Audit Standards (CAS) 2023 Update" course provides an essential overview of the latest developments impacting Canadian audit practices. Designed specifically for small to mid-sized firms dealing with non-publicly accountable entities and not-for-profits, this session avoids complex public interest entity issues to focus on directly applicable changes.

You'll gain crucial insights into significant updates and forthcoming standards, ensuring your practice remains compliant and efficient. The course emphasizes both new standards coming into effect for 2023 year-ends and those recommended for early adoption, offering a proactive approach to audit methodology.

Key learning outcomes include:

  • Navigating New Standards: Understand the requirements of CAS 220 (Quality Management for an Audit of Financial Statements) and its implications for engagement partner responsibilities, as well as updates to the joint policy statement on actuaries and auditors.
  • Early Adoption Opportunities: Explore the benefits and requirements of early adopting CAS 600 (Group Audits), particularly its applicability when working with other firms for audit procedures like inventory counts or asset inspections.
  • Mastering CAS 315 Revisions: Engage in a focused discussion on the implementation challenges and best practices for the revised CAS 315, emphasizing the transition from purely substantive approaches to incorporating control testing and general IT controls.
  • Understanding Future Changes: Get a forward-looking perspective on upcoming projects, including exposure drafts for CAS 500 (Audit Evidence) and proposed revisions to Going Concern and Fraud standards, preparing you for strategic shifts in audit evidence obtainment and sampling methodologies.
  • Addressing Practice Review Deficiencies: Review common practice review findings related to entity information systems, fraud risk assessment, analytical procedures, substantive testing, journal entry testing, written representations, materiality revisions, and timely file assembly.

By the end of this course, you will be equipped to adapt your audit approach to meet evolving standards, enhance audit quality, and proactively prepare for the future landscape of auditing.

Your Instructors

Clearline Consulting
Clearline Consulting
menu_book25 courses
star2,240 reviews

Clearline Consulting provides practitioners and their staff with the tools, training and advice they need to succeed and build thriving accounting firms. From tax compliance to estate planning, file monitoring to assisting with practice review, staff training to customized consulting solutions, our team exists to serve the needs of small to mid-sized public practice firms across Canada. Our collaborative, integrated approach means your firm has access to and support from knowledgeable practitioners who are in front of the ever-changing standards environment. Our core services include supporting firms with the implementation of the quality management standards, external file monitoring, services for accounting, assurance and taxation maters, provisions of templates and resources, practice management and risk mitigation consultations.

Bridget Noonan
Bridget Noonan

Partner and co-founder of Clearline Consulting

Bridget has 20 years of experience in the accounting profession. Bridget is an assurance partner of Clearline CPA and co-founder of Clearline Consulting. Through these two diverse, however complimentary roles, her days are devoted to small and mid-size public practice firms and our clients. Bridget has many perspectives within the accounting profession. As an assurance partner, a past and present board member and a consultant working with CPABC, CPA Canada and 300+ small to mid-size firms throughout Canada. Bridget has authored and facilitated CPA courses for the profession for over 20 years and provides firm training and support in all areas of standards and regulatory compliance, practice management, quality management and file reviews.

Credit Information

Is this course eligible for my CPD requirements as a Canadian CPA?

Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.

Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.

What Students Are Saying

5.0
Student's Choice
36 reviews

Frequently Asked Questions

We are a registered provider with 327+ associations and regulatory bodies worldwide. We operate across 29 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.