NEW

The New Auditing Reporting Model and Related Changes

Level: Intermediate                                                                    

A new audit report is coming!

(For audits of financial statements and other historical information for periods ending on or after December 14th, 2010)

This means all audit reports will change - for historical financial statements and special engagements.

This course provides an overview of the reporting standards under the NEW Canadian Auditing Standards (CASs).   It is suited both to members who practice public accounting and members in industry that would like an overview of changes to the auditing standards whether they are issuing or reading the audit reports.

Learning outcomes:

•       Awareness of the acceptable financial reporting frameworks and what type of report should be used in various circumstances

•       Awareness of other related changes to the auditing standards as a result of the issuance of Canadian Auditing Standards and how they will impact the audit report

Topics include:

•       Overview of the acceptable financial reporting frameworks under Canadian Auditing Standards (CASs)

•       Review of the appropriate reports under each of the acceptable financial reporting frameworks

•       Review of the dating of the audit report and subsequent event testing

•       Review of potential modifications to the Independent Auditor's Report, i.e., when will it not be possible to issue a "clean" audit opinion

•       Overview of other significant changes to auditing standards including audit of accounting and fair value estimates, going concern and using the work of an auditor's expert and other standards that might affect the content of the audit report

•       Overview of process changes that will be required, for example changes to engagement letters

Prerequisite:  None

Seminar Leader: (Instructor Bios Page 22)

Susan McIsaac, FCA

Jul 5                                  A102S                 ICANS

Member: $155                    Passport Valid     1pm–4pm

Non-Member: $190             ½ Passport Day   3 PD Hrs