Quality Management - Overview for Non-Assurance Service Providers
CPD Hours: 3.5 |
Overview:
This course provides an overview of the requirements of the newly issued Canadian Standard for Quality Management (CSQM1 and CSQM2) and its impact on the quality control processes for non-assurance practitioners.
The Canadian Standards for Quality Control (CSQC1) has replaced the Canadian Standard for Quality Management (CSQM1 and CSQM2). For non-assurance firms, there is a one-year deferral to December 15, 2023.
This course reviews the requirements of the new standards and is intended for non-assurance firms. At the end of the course, you will have a road map of the decisions that will need to be made and the changes, if any, required to ensure your quality control processes and procedures are compliant with the new standards.
NOTE: This course is not intended for those that provide assurance services.
Course Content:
In this course, you will gain knowledge about the following topics:
- Discussion around the current environment and driver for the new requirements including Canada’s role in IFAC and standards development and timeline of work performed
- Why are the standards changing? Highlight the critical issues identified and resolved through a review of the basis of conclusions and decisions reached
- What are the new standards? Summary of the 8 components of CSQM1
- What are the most significant areas of change? The focus will be on resources and information and communication
- How do we apply the new standards? Risk-based approach, focuses on outcomes not rules, scalability, identification of quality objectives, and identifying risks to achieving the qualified objectives
- How do we monitor and evaluate post-implementation?
- What are my next steps? Examples of questions that can be asked and answered, identification of the firms specific risks, and preliminary consideration of responses
- Summary of resources that are coming with updated QAM and implementation tool
Learning Objectives:
Upon completing this course, you should be able to:
- Describe the requirements of the new standard
- Identify the areas of the firm’s quality control processes and procedures which will be affected by the new standard
- Design an implementation work plan to implement the new requirements
Who Will Benefit:
Practitioners who are in charge of, or familiar with the firm’s quality control processes that provide compilation and other non-assurance service.
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