Soon after this crisis broke out in Canada, there been a lot of talk about the accounting and assurance implications of the COVID-19. These include financial reporting considerations such as subsequent events and going concern notes, disclosure of risks from financial instrument, as well as measurement of financial and non-financial assets. The impact is not … Continue reading “Accounting and Assurance Implications of the COVID-19 Crisis”
Professional Engagement Guide (PEG) update It’s that time of year again when the updated PEG checklists are released and your firm templates should be updated. New Resources Whether you subscribe to Caseware, Jazzit or another third party service provider and use the checklists in their entirely or you customize your firms’ templates … Continue reading “2019 Professional Engagement Guide (PEG) Update”
CPA Canada has released the 9th update to its Quality Assurance Manual (QAM) publication which is a package of materials, templates and worksheets designed to help firms comply with Canadian quality control standards. The most significant aspect of this update is the inclusion of material that addresses the new review engagement standard, CSRE 2400. As … Continue reading “CPA Canada Quality Assurance Manual Updated for CSRE 2400”
CPA Canada has released their Reporting Implications of the Canadian Standard on Review Engagements (CSRE 2400) guide. This extensive guide provides a series of issues presented in Q&A format and includes over 20 illustrative Independent Practitioners’ Review Engagement Reports for CSRE 2400. This will likely be a valuable resource for your firm during the transition to the new review … Continue reading “Reporting Implications of the Canadian Standard on Review Engagements”
Implementing CSRE 2400, the new review engagement standard, for your accounting firm is more than updating checklists. Get it right with these tips.
Understand the new CSRE 2400 requirements specifically for your firm. Here’s how to implement an effective transition with modifications specific to you.
Updating your accounting firm to CSRE 2400 is more than just updating checklists. Learn from past transition mistakes of other firms to ensure effective adoption.
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.
When it comes to transitioning to CSRE 2400, the sooner you can start thinking about your plan, the better. From administrative changes to timing to implementation, there are a number of considerations to take into account.
Your firm’s ability to adopt the new CSRE 2400 standards depends on a number of factors. Consider these two key factors as you plan the transition.