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Forms Overload: Using PEG assurance forms efficiently

Individual Course Price: $175.00

Number of PD Hours: 3

Course Objective
The objective of the course is to examine practical issues on how to use the PEG Audit and Review forms in conducting assurance engagements, especially for smaller entities. The course will examine deficiencies and inefficiencies that we find as quality control monitors in a wide range of firm and engagement sizes, which are often rooted in a lack of understanding of the theory and methodology behind the forms.
Audits:
In a risk-based audit, the overall underlying assumption is that every audit procedure must respond to a risk of material misstatement and/or address a specific CAS requirement. Failure to identify and document risks of material misstatement or an insufficient understanding of the CAS requirements will often lead to an inefficient or deficient audit.
The course will focus on key CAS requirements, the PEG audit methodology and key PEG forms that need to work together to document your audit strategy. Case study examples and forms will be used to:
• Document client acceptance and planning;
• Use the understanding of the entity to identify and assess risks of material misstatement;
• Summarize the identified risks at both the financial statement and assertion levels;
• Link the extent of audit testing to the assessed risks of material misstatement.
Reviews
It’s been over two years since the new CSRE 2400 standards became effective. In our experience, very few files have made the transition from the previous standard, based almost solely in inquiry and analytical review, to the new “risk-based” review standard, which focuses on identifying areas of the financial statements where material misstatements can arise as the basis for designing review procedures. The new methodology and PEG forms represented a significant change from previous practice.
The objective of the course is to review key differences between CSRE 2400 and s. 8100 review techniques that often lead to implementation issues when applying the new review engagement standards. Case study examples and forms will be used to:
• Document the understanding of the entity to identify areas of the financial statements where material misstatements could arise,
• Summarize the identified “risks” at both the financial statement and material financial statement area (“FSA”) assertion levels to come up with a review engagement plan;
• Link the “risks” to review engagement procedures to support the work completed in each section.
The course will review key PEG audit and review steps and the related forms to ensure the file documentation is easy to follow and meets professional standards.
Note: The course is designed to focus on key issues and techniques and assumes that participants have a solid understanding of the CAS, CSRE2400 requirements and the PEG methodology. The course does not cover all the standards, forms, etc. which may be necessary for performing an assurance engagement and is intended as an overall refresher course.

Course Sessions:
CodeProgramSession DateStart Time 
Online2019112019/2020 Online 11/15/2019 12:00 AM
110820192019/2020 Markham Mornings (Fri) 11/8/2019 9:00 AM
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In-Class locations:

Toronto - Temple Sinai. 210 Wilson Ave, North York, ON M5M 3B1


Oakville - Le Dome. 1173 North Service Road East. Oakville, L6H 1A7


Markham - Markham Event Centre. 95 Duffield Drive, Markham, L6G 0A8


How to Save Even More

For our accounting professional development programs:

 

SAVE $255 

when you register for our core package of 7 courses as opposed to buying each course individually


SAVE $440

when you register for our classic package of 11 courses as opposed to buying each course individually

 

SAVE $280

when you register for our flex package of 14 courses as opposed to buying each course individually

 

If your firm is purchasing more than 10 packages please contact Alison Winton for pricing 

(905) 881-9285 ext 102