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Getting Ready for the New Compilation Standard - CSRS 4200

  • Accountant
  • CPA (CA)
  • CFE
  • CIA
  • CMA
  • IAP
  • QIAL

Published: May, 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

  • Objective of compilation standards
    12 mins
  • Engagement acceptance and continuance
    41 mins
  • Example of compilation engagement letter
    55 mins
  • Financial information - Basis of accounting
    70 mins
  • Practice review & Best practices
    104 mins
  • Significant differences CSRS 4200 and 9200
    123 mins
  • Implementation checklist - Firms Best Practices
    145 mins

Course Description

Some things never change. But the compilation standard isn't one of them. 

The new Canadian Standard on Related Services (CSRS) 4200 is a significant change from the current compilation standard s.9200. CSRS 4200 is effective for compiled financial information for periods ending on or after December 14, 2021. Previously under the Notice to Reader, a note was attached to financial statements stating that you have not conducted an audit on the enclosed information. Now under the new CSRS 4200 Compilations of Engagement, a letter must be attached outlining which accounting basis you used and descriptions of your responsibilities alongside management’s responsibilities. 

This CPD webinar will provide an overview and application of the requirements of the new Canadian Standard for Related Services (CSRS) 4200 and will discuss its impact on the planning, implementation, documentation, and reporting for a compilation engagement.  

It has been almost 30 years since the standard on compilation engagements has been revised. The new Canadian Standard on Related Services (CSRS) 4200, Compilation Engagements, updates and strengthens the requirements and guidance for accepting, conducting, and reporting on compilation engagements. Its impact will not only be felt by practitioners, but also by users—including loan officers who use compiled financial information when granting loans or extending credit to small and mid-sized companies. 

This online CPD course also discusses the key considerations and best practices for practitioners to develop a successful implementation plan and strategy for when the new standard becomes effective. 

Here is the link to your interests: CPD Webinar for Canadian CPAs | Accounting & Auditing CPE Courses

Learning Objectives

  • To discuss the requirements of the new standard. 
  • To analyze how to apply CSRS 4200 Compilation Engagements in practice. 
  • To explain how practitioners can implement the changes to their compilation engagements. 
  • To inform new and existing clients and other stakeholders about the changes and new requirements. 
  • To train your staff about how to perform the engagement under the new standards. 
  • To explore what areas of the compilation engagements are most affected by the new standards  

Recommended For

  • This online CPD course is recommended for Canadian CPAs, CMA, CIA, IAP, QIAL, CFE, and other Accounting and Auditing professionals who want to understand everything about New Compilation Standard - CSRS 4200.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Auditors
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Forensic Auditor
  • Fraud & Forensic Auditor
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 3 General Credit for Accountant/Bookkeeper/Tax Professionals
  • 0.2 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
  • 3 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
  • 0.2 CPE Credit of Auditing for Certified Management Accountants (CMA)
  • 3 CPE Credit for Internal Audit Practitioner (IAP)
  • 3 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 3 CPD Credit of Fraud and Risk Management for Chartered Professional Accountant (CPA Canada)

Additional details

  • Course Level :
    Basic
  • Credits :
    3
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

Presenter

About Presenter

Big4 CPA

Founder, AK Consulting Inc.

We are a team of Big4 CPA, CA and other professionals. We offer wide range of professional development courses for CPA members relating to Canadian Taxation, International tax, Accounting, Ethics, Business, Workplace Teams & Culture, High Performance, Soft skills, and Personal Development.

We also work with third party content creators to offer unique CPD for our CPA members, such as on latest technology, cyber security, digital marketing. and various other interesting topics.


Faq

FAQs content

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Ratings and Review

4

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TGJ

Thomas Grzywacz Jr, CPA (US)

Jun 30th, 2022

Good

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