Presentation
Recording
All firms performing assurance engagements, other assurance or related services engagements, which includes compilation engagements, were required to have systems of quality management (SoQM) designed and implemented in accordance with CSQM 1 by December 15, 2022, with the first annual evaluation of the SoQM due by December 15, 2023.
We will review the two types of monitoring required in order to evaluate the effectiveness of the SoQM.
Annual monitoring – evaluation of compliance with policies and procedures.
Completed file – inspection of completed engagement files on a cyclical basis in order to evaluate compliance with firm policies as well as compliance professional accounting and assurance standards.
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.
