Navigate the latest assurance standard updates, including going concern, audit evidence, and fraud, to stay ahead of regulatory expectations.
The objective of the Assurance Update is to provide practitioners and firms with an overview of recent changes to assurance standards.
The course will review recently issued standards, recent exposure drafts, and the status of current projects. The course will also discuss common issues found by inspectors and monitors.
The course will examine proposed amendments to new standards.
Canadian Auditing Standards:
Audit Evidence – Driven by the growing use of technology in audits, this project is examining the nature and extent of audit evidence and the need for exercising professional skepticism.
Fraud – In light of several high-profile international corporate failures and significant accounting restatements, the area of fraud and the auditor’s roles and responsibilities relating to fraud detection has come under scrutiny.
Going-concern – Examines auditors' responsibilities regarding the going concern of the entity, and what should be communicated to users about the entity's ability to continue as a going concern for the foreseeable future. We will also briefly discuss the impact of CAS 600, Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors). The revised standard clarifies the actions of the group auditor when communicating with component auditors, including communications relevant to the design of responses to assessed risks of material misstatement.Â
Other – The IAASB approved its International Standard on Auditing for Audits of Financial Statements of Less Complex Entities. The impact on future CASs could be significant.
Specific topic areas will include:
This course is ideal for:
CPAs in public practice. Focus is on standard updates, therefore suited to experienced CPAs, senior accountants, managers, and partners or directors.
Recorded at the end of 2024.
AJAG Professional Development was founded in 2003 with a mission of making professional development easier and more cost-effective for Canadian accountants and other financial advisory professionals. Our comprehensive range of flexible and reasonably-priced courses, programs and seminars are delivered online and in classroom-style settings in the Greater Toronto Area (Toronto, Oakville and Markham). AJAG features a roster of highly-qualified instructors who deliver content that is pertinent, up-to-date and engaging.
