The Canadian Standards for Quality Control (CSQC1) have been replaced the Canadian Standard for Quality Management (CSQM1 and CSQM2) and related amendments to relevant assurance standards. For firms that perform assurance engagements, the quality management systems are required to be implemented by December 15, 2022. This session will assist in identifying and documenting the firm’s quality objectives, the identification and assessment of common risks to meeting these objectives, and the design and implementation of the firm’s response to these risks. The session will refer to CPA Canada’s Quality Management Subscription as an example template to assist practitioners in documenting the firm’s processes and policies

Topics Include:

· A brief refresher of the new standards

· Review of the resources that are available to firms for documenting compliance with the new standards (QAM subscription)

· Case study approach to the identification of quality objectives and quality risks

· Discussions used to design and implement responses

· Example of implementation of monitoring (firm and engagement level)

· Examples of how to respond to identified deficiencies.

Prerequisites: Knowledge, Experience or Courses:

Understanding of the requirements under CSQM1 and 2 and CAS 220 or past attendance in Quality Management - Review of the New Standards for Assurance Providers (CSQM 1 and 2)

Applicable for

This course is intended for assurance practitioners who are in charge of or familiar with the firm’s quality control processes

Non-assurance practitioners should plan to attend a customized session in (Fall 2022 / Winter 2023)

Learning Objectives

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

· Identify the resources available through the CPA Canada Quality Management (name of new product to be update) subscription;

· Summarize and document the quality objectives of the firm and the identified quality risks; and

· Design and document a firm’s specific responses to these risks

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