Quality Management – Overview of CSQM 1 and 2 for Providers of Assurance Services New Standards

New Activity offered by the Order Register at the bottom ELIGIBILITY FOR COMPULSORY CONTINUING EDUCATION All hours accrued for this training activity will be recognized as public accountancy hours for the purposes of the regulation respecting compulsory continuing education. Once you have completed this training, your compulsory continuing education hours will be automatically entered in your online file on the Order’s website. Context and training goal This training activity provides participants with an overview of the requirements of the newly issued Canadian Standard for Quality Management (CSQM 1 and CSQM 2) and related amendments to Canadian Auditing Standards (CAS 220) and its impact on the quality control processes for assurance practitioners. The training activity will build on your knowledge and implementation of the current requirements under the Canadian Standards for Quality Control (CSQC 1) and highlight differences. The Canadian Standards for Quality Control (CSQC 1) have been replaced by the Canadian Standards for Quality Management (CSQM 1 and CSQM 2) and related amendments to relevant assurance standards. For firms who perform assurance engagements, the systems of quality management are required to be implemented by December 15, 2022. For non-assurance firms, there is a one-year deferral to December 15, 2023. This training activity will review the requirements of the new standards and is intended for assurance firms who are already familiar with the current quality control standards. At the end of the training activity participants will have a road map of the decisions that will need to be made and the changes, if any, required to ensure current quality control processes and procedures are compliant with the new standards. Objectives By the end of this training activity, participants will be able to: describe the requirements of the new standard and the differences from the current standards; identify the areas of the firm’s quality control processes and procedures which will be affected by the new standard; design an implementation work plan to implement the new requirements. Program Discussion around the current environment and driver for the new requirements including Canada’s role in IFAC and standards development and timeline of work performed Why the standards are changing – Highlight of critical issues identified and resolved through review of basis of conclusions and decisions reached The new standards – Summary of the 8 components of CSQM 1 Significant areas of change with focus on resources, information and communication Application of the new standards – Risk based approach, focus on outcomes not rules, scalability, identification of quality objectives and identifying risks to achieving the qualify objectives Monitoring and evaluating post implementation Networks and related considerations Next steps Examples of questions that can be asked and answered, identification of firm’s specific risks and preliminary consideration of responses. Summary of resources that are coming with updated QAM and implementation tool Target audience This course is intended for assurance practitioners who oversee or are familiar with the firm’s quality control processes. Deadline for accessing this activity’s material: August 31, 2022 IMPORTANT INFORMATION By registering for this live webinar , you consent to the recording of your name and discussions (audio/video/chat), without compensation or restriction, in the event that a recording is made for subsequent viewing for a fee. To improve discussion in the workshops, it is highly recommended that you use a microphone during this webinar. Virtual classes and webinars can only be accessed live at the specified date and time so that you can interact with the instructor and the other participants. Therefore, be sure to put this activity in your planner, because you will not be able to watch it later after the training activity has ended. Read the terms and conditions of the Order’s training activities > Offer a training activity at your organization Most of the training activities offered by the Order can be held as “In-house training activities,” which save you time and money because they can be given to a number of employees at the same time, either remotely or in person. Write to us to discuss your needs! Learn more about this training format > Write to us For questions about this training activity: Contact the Quebec CPA Order team From Monday to Friday, from 8:00 a.m. to 4:30 p.m. 514 288-3256, extension 2605 Toll-free: 1 800 363-4688, extension 2605 dp@cpaquebec.ca For technical assistance with the Vivo portal: Contact the SVI eSolutions team Everyday, from 8:00 a.m. to 10:00 p.m. 418 948-4848, extension 1 Toll-free: 1 866 843-4848, extension 1 Support@SVIeSolutions.com