The Canadian Standards for Quality Control (CSQC1) have been replaced the Canadian Standard for Quality Management (CSQM1 and CSQM2). 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 non-assurance firms. 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 quality control processes and procedures are compliant with the new standards. Topics Include:

· 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?

· What are my next steps? Examples of questions that can be asked and answered, identification of firms specific risks and preliminary consideration of responses. Summary of resources that are coming with updated QAM and implementation tool.

Applicable for

This course is intended for practitioners who are in charge of, or familiar with the firm’s quality control processes that provide compilation and other non-assurance service. This course is not intended for those that provide assurance services.

Learning Objectives

By the end of this course, participants should be able to:

· Describe the requirements of the new standard;

· Identify the areas of the firm’s quality control processes and procedures which will be affected by the new standard; and

· Design an implementation work plan to implement the new requirements.

Seminar Leader: Patricia Dahm

What to Expect

· This is a Live Virtual Seminar where class size has been limited to allow for an interactive learning environment.

· This seminar will not be recorded.

· Course materials, links and credentials will be emailed to you two business days before the seminar. Once sent, the email will also be found in your Account Communication tab of the CPA Manitoba Member Portal.

· Live webinars have varying levels of expected interaction, and some may require webcam and microphone capabilities – if you have concerns about the interaction required for this course, please email [email protected]

CPA Manitoba PD Terms and Conditions