Design effective quality assurance systems for enhanced compliance.
By 2024, all firms performing assurance engagements, including related service engagements (e.g., compilations), must design and implement a system of quality management. This system includes a new quality management manual and a monitoring program. The objective of this course is to provide practitioners and firms with an overview of key CSQM 1 and CSQM 2 requirements and to examine their risk assessment, policies, and monitoring activities to create a quality management manual and monitoring program.
This session will provide an overview of the key CSQM 1 and CSQM 2 requirements and discuss how to design and implement a SoQM, including monitoring activities, which are required to be completed by the end of the first year after implementing your SoQM. CSQM 1 requires firms to adopt a risk-based approach in designing, implementing, and operating the SoQM. In general, this requires a firm to:
The session will discuss what is needed to prepare a monitoring plan, execute the monitoring activities, and evaluate the findings, which will form the basis of your monitor's report. Specific topic areas will include:
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This course is ideal for:Â CPAs in public practice responsible for quality management; partners, heads of quality management, managers, monitors, and quality reviewers.
AJAG Professional Development was founded in 2003 with a mission of making professional development easier and more cost-effective for Canadian accountants and other financial advisory professionals. Our comprehensive range of flexible and reasonably-priced courses, programs and seminars are delivered online and in classroom-style settings in the Greater Toronto Area (Toronto, Oakville and Markham). AJAG features a roster of highly-qualified instructors who deliver content that is pertinent, up-to-date and engaging.
Marcus Guenther works with corporations and accounting firms to improve their workflow, internal control and risk management practices, as well as assisting with technical accounting and auditing issues. He is the co-author of the CICA Professional Engagement Manual (CPEM) as well as other technical publications and articles and teaches accounting, IFRS, and auditing and assurance courses for numerous professional organizations. Marcus was previously a Senior Manager at BDO Dunwoody LLP, where he was responsible for audit, tax and accounting engagements.
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.
