Quality Management - Application for Assurance Service Providers
Overview:
The Canadian Standards for Quality Control (CSQC1) have replaced the Canadian Standard for Quality Management (CSQM1 and CSQM2) and related amendments to relevant assurance standards. For firms that perform assurance engagements, the quality management systems are required to be implemented by December 15, 2022.
This course will assist you in identifying and documenting the firm’s quality objectives, the identification and assessment of common risks to meeting these objectives, and the design and implementation of the firm’s response to these risks. The course will refer to CPA Canada’s Quality Management Subscription as an example template to assist practitioners in documenting the firm’s processes and policies.
This professional development course provides a brief overview of the newly issued Canadian Standard for Quality Management (CSQM1 and CSQM2) requirements. The course will provide examples of common quality control objectives, risks, and responses for small to mid-size firms and provide you with the opportunity to tailor these to your firm’s specific circumstances.
Course Content:
In this course, you will gain knowledge about the following topics:
- A brief refresher of the new standards
- Review of the resources that are available to firms for documenting compliance with the new standards (QAM subscription)
- Case study approach to the identification of quality objectives and quality risks
- Discussions used to design and implement responses
- Example of implementation of monitoring (firm and engagement level)
- Examples of how to respond to identified deficiencies
Learning Objectives:
Upon completing this course, you should be able to:
- Identify the resources available through the CPA Canada Quality Management subscription
- Summarize and document the quality objectives of the firm and the identified quality risks
- Design and document a firm’s specific responses to these risks
Who Will Benefit:
Assurance practitioners who are in charge of or familiar with the firm’s quality control processes.