Qlty. Mgt:Overview of CSQM 1&2 for providers of Assur. Srvcs

Qlty. Mgt:Overview of CSQM 1&2 for providers of Assur. Srvcs
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.

DL22230321

Recorded: September 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 While we make an effort to keep our inventory updated and seasonally remove outdated titles, changes in accounting, tax and other acts and legislations can happen at any time.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. 

The Canadian Standards for Quality Control (CSQC1) have been replaced the Canadian Standard for Quality Management (CSQM1 and CSQM2) and related amendments to relevant assurance standards.  For firms who perform assurance engagements the the systems of quality management are required to be implemented by December 15, 2022.  For non-assurance firms, there is a one-year deferral to December 15, 2023.

This session will review the requirements of the new standards and is intended for assurance firms who are already familiar with the current quality control standards.  At the end of the session you will have a road map of the decisions that will need to be made and the changes, if any, required to ensure your current quality control processes and procedures are compliant with the new standards.

In the summer of 2022 an application session, which will provide detailed examples and documentation resources, will be made available.

LEARNING OBJECTIVES
By the end of this session, participants will be able to:
1. Describe the requirements of the new standard and the differences from the current standards;
2. I
dentify the areas of the firm’s quality control processes and procedures which will be affected by the new standard; and
3. D
esign an implementation work plan to implement the new requirements.

CONTENT

  • Discussion around the current environment and driver for the new requirements including Canada’s role in IFAC and standards development and timeline of work performed
  • Why are the standards changing? Highlight the critical issues identified and resolved through review of basis of conclusions and decisions reached
  • What are the new standards? Summary of the 8 components of CSQM1
  • What are the most significant areas of change? Focus will be on resources and information and communication
  • How do we apply the new standards? Risk based approach, focus on outcomes not rules, scalability, identification of quality objectives and identifying risks to achieving the qualify objectives
  • How do we monitor and evaluate post implementation?
  • Other: Networks and related considerations
  • What are my next steps? Examples of questions that can be asked and answered, identification of firm’s specific risks and preliminary consideration of responses. Summary of resources that are coming with updated QAM and implementation tool.

WHO WILL BENEFIT
This course is intended for assurance practitioners who oversee or are familiar with the firm’s quality control processes. 

CPD- 3.5 Hours(15 minutes Ethics)

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