MYCPE ONE

Staying Ahead: CSQM1 Compilation Practices for 2024 3.5 Credits 3.5 Credits

Sep 04, 2024, 09:00 AM EDT

Staying Ahead: CSQM1 Compilation Practices for 2024 3.5 Credits 3.5 Credits

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Sep 04, 2024, 09:00 AM EDT

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AI Review Summary

Generated by AI based on all course reviews

Learning Objectives

  • Explore the new quality management standards.
  • Review the scope of CSQM1.
  • Performing risk assessment procedures and drafting firm policies.
  • Implementation of policies and monitoring.
  • Discuss the timelines and work ahead to implement the new standards.

Course Overview

For the first time, compilation practices must adhere to stringent quality assurance standards, notably the Canadian Standard on Quality Management (CSQM) 1 and CSQM 2. These standards, effective as of December 15, 2023, specifically target firms engaged in audits, reviews of financial statements, and other assurance services. This mandates that firms establish and implement a robust System of Quality Management (SQM) by the end of 2023. CSQM1 focuses on enhancing the quality management framework for engagements such as compilations under CSRS 4200, requiring firms to effectively meet comprehensive quality objectives and address associated risks.

Throughout this course, we will delve into crucial aspects outlined by CSQM1 and CSQM2. Key requirements include setting clear quality objectives to guide the firm's operations and services. Moreover, firms must identify and evaluate potential risks impacting their ability to achieve these objectives. Designing and implementing responsive strategies to mitigate these risks is pivotal in ensuring proactive quality assurance management. Additionally, establishing a robust monitoring and remediation program will be emphasized, which is crucial for ongoing evaluation and continuous improvement of the firm's quality management practices.

Join this CPD course to understand how compliance with CSQM1 and CSQM2 represents a pivotal step towards adopting standardized quality management practices in firm assurance engagements.

Key topics covered: 

  • New Quality Management Standards
  • Scope of CSQM1
  • Components, Objectives, and Risks
  • Implementation
  • Monitoring and Evaluation
  • Tools and Templates

For more Canada CPD Courses, Click here.

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Auditing for Chartered Professional Accountant in Canada 3.5 CPD Eligible
Accounting & Auditing (Govt.) for Certified Internal Auditors (CIA) 3.5 CPE Eligible
Auditing for Certified Fraud Examiner (CFE) 3.5 CPE Eligible
Auditing for Certified Management Accountants (CMA) 3.5 CPE Eligible
Auditing for Certification in Risk Management Assurance (CRMA) 3.5 CPE Eligible
Auditing for Certified Government Auditing Professional (CGAP) 3.5 CPE Eligible
Auditing for Internal Audit Practitioner (IAP) 3.5 CPE Eligible
Auditing for Qualification in Internal Audit Leadership (QIAL) 3.5 CPE Eligible
License details Credits Status
Auditing for Chartered Professional Accountant in Canada 3.5 CPD Eligible
Accounting & Auditing (Govt.) for Certified Internal Auditors (CIA) 3.5 CPE Eligible
Auditing for Certified Fraud Examiner (CFE) 3.5 CPE Eligible
Auditing for Certified Management Accountants (CMA) 3.5 CPE Eligible
Auditing for Certification in Risk Management Assurance (CRMA) 3.5 CPE Eligible
Auditing for Certified Government Auditing Professional (CGAP) 3.5 CPE Eligible
Auditing for Internal Audit Practitioner (IAP) 3.5 CPE Eligible
Auditing for Qualification in Internal Audit Leadership (QIAL) 3.5 CPE Eligible

Additional Information

Credits

3.5

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

About Instructor

AJAG

AJAG Professional Development

AJAG Professional Development

  • 4.5
  • rating
  • rating
  • rating
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AJAG offers a comprehensive selection of professional development courses in Tax, Accounting, Assurance, Ethics and more - all designed to keep CPAs informed and up to date. We strive to deliver the highest quality, most relevant and accessible continuing education content for CPAs in Canada. Our instructors are some of the most well-respected presenters in their field and present their own course material - covering a wide range of relevant, timely topics.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. Our courses qualify for credits with NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses accepted by NASBA and other professional organizations?

MY-CPE LLC courses are accepted for continuing education credit by various professional certification programs, including NASBA, IRS, CFP Board, and HRCI. MY-CPE LLC is also recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® and SHRM-SCP® recertification activities.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. Our courses qualify for credits with NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other professional organizations.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars accepted by NASBA and other Professional Organizations?

MY-CPE LLC courses are accepted for continuing education credit by various professional certification programs, including NASBA, IRS, CFP Board, and HRCI. MY-CPE LLC is also recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® and SHRM-SCP® recertification activities.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are accepted for compliance and reporting purposes with NASBA, IRS, CFP Board, HRCI, SHRM (for PDCs), Payroll Org, FP Canada, and 25+ other professional organizations.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

Excellent (57%)

Very Good (41%)

Average (3%)

Poor

Terrible

JC

Jennifer Chan, Tax Professional

5

The presenter was excellent in teaching this training. It was extremely useful!

DD

Dan Devapalan, CPA in Canada

5

Course is very relevant and in-depth. Presenter is very knowledgeable.

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CSQM1 Compilation Practices

Inclusions

  • Multiple Credits

    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting

    Certifications & Reporting

    We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.

  • Credit Tracker

    Credit Tracker

    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

  • Certificate Vault

    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

  • Compliance Reminders

    Compliance Reminders

    Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.

  • Mobile App Access

    Mobile App Access

    The MYCPE ONE Mobile App allows you to learn on the go, providing access to educational content on Android and Apple iOS devices. You can learn anytime and anywhere, making it convenient for busy schedules.

  • Live Support

    Live Support

    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

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