Focus on Practice Inspection Report

 
As the governing body of a self-regulating profession, CPA Manitoba contributes to the protection of the public by promoting the highest standards of integrity and expertise to our members. Practice inspection is a key component of CPA Manitoba’s overall regulatory process. We assess practitioners’ adherence to professional standards, thereby contributing to users’ confidence in the integrity of financial information. We achieve this by assessing quality management and inspecting assurance and compilation engagements. We also provide an educational experience to help practitioners improve their professional standards where necessary.

As our professional and regulatory landscapes continue to change, we must maintain our oversight while proactively addressing change. In the coming years, practitioners will face challenges relating to artificial intelligence, enhanced data analytics, new and unique industries and changes to professional standards. We will be monitoring how practitioners address these challenges.

In this report, we highlight the results of inspections as well as observations and suggestions for improvement that we believe will best assist practitioners in performing high-quality engagements.

Read the 2023 Focus on Practice Inspection Report