CSRS 4200: Compilation Engagements Building a Transition Plan
The new compilation engagement standard, Canadian Standard on Related Services (CSRS) 4200 Compilation Engagements was published in the CPA Canada Handbook on February 3, 2020. The effective date of the new standard is for fiscal periods ending on or after December 14, 2021. This effectively leaves us a little less than a year and a half to get ready to implement the new standard.
We have create a 6 step transition plan for your Firm’s consideration. The order and manner in which you conduct these steps will differ from firm to firm depending on the number of compilation engagements, size and structure of the firm and staffing, your engagement workflow and when and how you communicate with clients.