Strategies for Ensuring Compliance with Professional Standards and Maintaining Quality Control in CPA Firms.
For many firms, it’s the time when they are awaiting the letter notifying them of their upcoming Provincial practice inspection. For others with inspections in 2023, it’s about ensuring that the planned monitoring activities and action plans from internal or Provincial inspections are executed. According to CPA Ontario, the goal of an inspection is to identify areas where an office has failed to maintain prescribed professional standards set out in the CPA Canada Handbook and the CPA Ontario Member’s Handbook, through an assessment of quality controls and a review of current assurance and compilation engagement files. Preparing early for an inspection often has a significant impact on how smoothly the inspection runs and helps avoid the stress of last-minute scrambling to assemble the firm’s manuals, reports, and files for inspection.
This 60-minute session will cover:
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.
