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Firm Quality Control Standards

  • CPA (CA)
  • CRMA
  • CIA
  • CMA
  • CPA (US)
  • IAP
  • QIAL

Published: January, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Overview

  • To whom does it apply to?
    6 mins
  • Engagement documentation
    15 mins
  • Applying and complying with relevant requirements
    27 mins
  • Breaches of independence
    40 mins
  • Engagement quality control review
    55 mins
  • Complaints and allegations
    70 mins
  • Understanding organization's IT systems
    84 mins

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?

  • Accounting and audit managers/practitioners
  • Certified Management Accountant
  • Certified Public Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Entrepreneurial CPA
  • Young CPA

Course Qualification

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)

Presenter

About Presenter

Michel Morley

Founder Mike Morley

Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

 “Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

Faq

FAQs content

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