Course content

    1. Presentation

    2. Recording Part #1

    3. Recording Part #2

About this course

  • $199.00
  • 3 CPD hours
  • November 16, 2022

Course Description

The revised standard sets out clarified and enhanced requirements to support the auditor’s risk assessment process, intended to support more focused responses to the auditor’s risk assessment in accordance with CAS 330.

While the standard is effective for audits of financial statements for periods beginning on or after December 15, 2021, the changes to the auditor’s risk assessment process are expected to be a significant change from existing practice. The revised standard requires a deeper understanding of the entity’s information systems, IT applications and controls. Therefore, practitioners should begin to understand the changes and plan to pilot engagements well before the standards becomes effective for all audits.

The course will review the key changes and requirements of CAS 315 revised and examine the impact of CAS 315R on:

  • Understanding the entity and its environment;
  • Understanding and assessing inherent risk using the spectrum of inherent risks;
  • Documenting and understanding the entity’s system of information systems; and
  • Information technology applications and IT general controls.

    • The course will review the changes to the PEG audit methodology and forms (6 new forms and revisions to another 18 forms), which were revised to incorporate the changes to CAS 315 revised and planning considerations for the upcoming December 2022 and beyond year-end audits impacted by the new standard.

    Instructor(s)

    Marcus Guenther

    Marcus Guenther is a partner in FocusHGK LLP, which provides quality assurance, monitoring, EQCR and other consulting services.

    Relevant experience:

    Marcus an accomplished trainer in accounting and auditing, author and consultant. In particular he:

    • assists many accounting firms in monitoring their quality control systems,

    • authors and presents training courses on accounting and auditing topics, and

    • assists with interpreting and applying professional standards on complex accounting and auditing issues.

    Training:

    Marcus has prepared and presented many accounting and assurance courses for CPA Canada, CPA Ontario, commercial training firms and individual firms over the years.

    Authoring:

    He was the co-author of the CPA Professional Engagement Guide (PEG) and the Quality Assurance Manual (QAM) and has authored other technical publications.