Review Engagements: Specific Topics

Review Engagements: Specific Topics
Distance Learning (DL) courses are sessions that have been recorded from live, in-person offerings and made available as on-demand videos online, along with any corresponding course materials. Note these are purely self-study products and there will be no access to instructors for questions and answers. Each title qualifies for verifiable CPD hours upon successful completion of a quiz at the end of the session. Unlimited quiz attempts are available until the passing grade of 70% or better is achieved. After this, you will no longer have access to the quiz.




NOTE: Course login details are normally sent to registrants within one week from date of registration.

DL22230251

Recorded: October 2021 

Because the video recordings are taken from live seminars, the information presented is up-to-date at the time of recording. While we make an effort to keep our inventory updated and seasonally remove outdated titles, changes in accounting, tax and other acts and legislations can happen at any time. It is up to the purchaser to take note of the recording date, and to determine for themselves whether the recorded video is still relevant to their needs. 

Drawing upon common deficiencies found nationally in practice inspections, this course will show participants how to quickly identify incomplete review engagement documentation and apply the necessary changes to resolve outstanding issues. In order to enhance the practical nature of the seminar, the material includes various exercises and examples of review engagement documentation. This seminar focuses on specific topics, and does not provide comprehensive coverage of the Canadian Standard on Review Engagements (CSRE 2400).

LEARNING OBJECTIVES
By the end of this course, participants should be able to:

  • Identify the common deficiencies in applying CSRE 2400 as noted by the various provincial practice inspection programs.
  • Determine the appropriate level of documentation for understanding the entity and its environment and identifying areas of the financial statements that are likely to be materially misstated.
  • Link the assessed areas of likely material misstatement to appropriate review engagement procedures.
  • Develop and perform appropriate analytical procedures and meet the documentation requirements of the standard.
  • Better document inquiries and discussions with the client by demonstrating professional skepticism.
  • Determine when it may be appropriate to perform additional procedures in accordance with the standard.

CONTENT
Topics covered in this course include:

  • An overview of the documentation requirements Common CSRE 2400 application and documentation deficiencies noted by provincial CPA practice inspection programs
  • Tips for addressing common deficiencies, such as documenting client/engagement acceptance/continuance, assessment of independence, assessment of the need for EQCR, use of the correct review engagement report, and dating of the report
  • Understanding of the entity and its environment using alternative approaches to documenting the client’s accounting systems
  • Identification of areas in the financial statements where material misstatements are likely to arise and linking them to the planned review procedures
  • The design and documentation of appropriate analytical procedures for revenue, inventory, cost of sales, and payroll
  • The performing of additional procedures, such as cut-off procedures, confirmations, and substantive testing of details

PREREQUISITE
Participants should have good knowledge of the CSRE 2400 – Review Engagements Standards and their application.

WHO WILL BENEFIT
This session is designed for practitioners and engagement staff who are conducting review engagements under CSRE 2400.

CPD-7 Hours

When
4/1/2022 - 3/31/2023 11:59 PM
Where
On-demand