Firm Quality Control Standards

Course Description

A system of quality control is broadly defined as a process to provide the firm with reasonable assurance that its personnel comply with applicable professional standards and the firm's standards of quality. The key idea is that a firm form a system of quality control intended for providing reasonable assurance that a firm and its employees adhere to the professional standards and legal and regulatory requirements and also that reports which are issued by such firm or its engagement partners are apt in the circumstances.

With the emphasized idea of promoting the internal culture which is based on the recognition that the quality is essential and paramount in executing any engagement.

In this 2 CPE live webinar, we will address relevance to ethical standards, client and engagement acceptance and continuance procedures, human resources policies and procedures, engagement performance and monitoring activities, and best practices in designing and implementing effective quality control standards that address the responsibility of firm leadership.

We walk through the AICPA’s recommendations and requirements so that you understand your responsibilities and duties when performing a client engagement. This session will also emphasize on CPA firm's responsibilities for its system of quality control for its accounting and auditing practice.

Major topics covered in this webinar include:

• Unconditional requirements
• Presumptively mandatory requirements
• Definitions of key terms
• Roles and responsibilities of the firm, the engagement partner, and the engagement team members
• Elements of an engagement
• Ethical, technical, people considerations
• Policies and procedures of the system of quality control
• Difficulties, breaches, and conflicts of interest
• Other significant considerations 

Learning Objectives

• Understand the firm’s responsibility for the system of quality control
• To examine roles of responsibilities of all the players
• To define the available options when things do not go well
• To learn how and when to communicate engagement issues
• To review documentation requirements
• To learn the policy and procedure of the system of quality control

Recommended For

• This online CPE course is recommended for CPAs, CMAs, CRMA, IAP, QIAL, CIA, and Other Accounting Practitioners who are involved in public practice and are indulged in providing accounting, auditing and attestation services.
• This online CPE webinar on auditing is recommended for CPAs in Canada who want to support their clients with better firm quality control standards. 

Who Should Attend?

Webinar Qualifies For

• 2 CPE Credit for Internal Audit Practitioner (IAP)
• 2 CPD Credit for Chartered Professional Accountant (CPA Canada)
• 2 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
• 2 CPE Credit for Certified Management Accountants (CMA)
• 2 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)
• 2 CPE Credit for Certification in Risk Management Assurance (CRMA)
• 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)

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