Compilations - Application of CSRS 4200

 (Formerly Titled : Compilation Engagements - Application of CSRS 4200 New Standard)

Overview: 

It is one thing for practitioners to have new standards implemented, but it is a whole other thing to know how to apply the new standards correctly. This course updates practitioners on the new standard for compilation engagements so that you will have a working knowledge of the standard for application in your practices. 

An overview of the CSRS 4200 Compilation Standard for new and experienced practitioners.  This course will include hands-on opportunities to review application of the standard to different scenarios and client engagements. This course provides practitioners with practical application steps and guidance for the ongoing use of CSRS 4200 for compilation engagements. The course will include discussion and application of the components of the standard from engagement acceptance to completion and reporting.  Time will be spent on the major sections of the standard, breaking down the course into sections on planning, performance, and reporting including the creation of working papers and documents to use as examples in practice.  You will leave with an understanding of the standard, some working examples, and materials to use as a reference to apply in their practices. 

There will be opportunities to apply the standard to different scenarios and make use of different approaches to application of the standard’s components.  This course will also provide best practices for compilation engagements and address frequently asked questions from practitioners with respect to CSRS 4200.

Course Content:

In this course, you will gain knowledge about the following topics:

• CSRS 4200 Standard
• Overview of the standard
• Walk-through of the standard in detail (including case studies, group discussion and creation of working papers / documentation / implementation plans)
• Requirements in Planning
• Documentation
• Reporting

Communication with the Client Practice review findings common to compilation engagements and how the new standard addresses existing and potential issues

• Best Practices for compilation engagements and address FAQs for CSRS 4200 specifically
• Review of References / Materials Available for Application of the Standard

Learning Objectives: 

Upon completing this course, you should be able to:

• Apply CSRS 4200 from engagement acceptance to reporting for all compilation engagements in their practices
• Apply CSRS 4200 to a variety of situations including the need to withdraw or events after issuance
• Develop plans to educate clients on the work done on their compilation engagements and how this improves the professional services they are receiving
• Understand what resources are available for practitioners in applying the standard to their practices
• Understand and apply best practices in conducting compilation engagements

Who Will Benefit:

New and experienced practitioners performing corporate income tax returns and compilation of financial statement engagements.

Testimonials:

For accounting firms looking to transition to the new standard, attending the Compilation seminar can provide guidance and make the change smoother than trying to do it on your own.  For a small accounting firm such as myself, one can get siloed in procedure that deviate from the CPA Standards for compilation.  Thumbs up to CPA Alberta for this webinar presentation.  Albert Ritchot