CSRE 2400 is coming sooner than you may think. Here are some key dates to consider as we move closer to transitioning to the new review engagement standard.
- Now: Firms should begin thinking about a plan for transitioning to CSRE 2400.
- Now: The CSRE 2400 finalized standard is available in the CPA Canada Handbook.
- Fall 2016 Onwards: Professional development training courses begin through CPABC.
- Summer / Fall 2017: CPA Canada is expected to issue the new Professional Engagement Guide.
- December 2017: CSRE 2400 becomes effective for reports on fiscal periods ending on or after December 14, 2017.
- January 2018: Firms will want to have finalized supporting resources, such as the template engagement file and training, in order to avoid doing so during busy tax season.
- February – May 2018 : The fieldwork for a firm’s first engagements under the new standard is likely to begin.
Having a clear understanding of the timing of CSRE 2400 will help your firm navigate the transition. Mark your calendars with these key dates to ensure you stay on track.
Looking for more strategies and timing recommendations to help your firm navigate and complete training for CSRE 2400? Click here to download our Special Report – CSRE 2400: The New Review Engagement Standard – When is the Right Time to Train?