Canadian A&A Roundtable

The introduction of CSQM1 and a focus by Provincial regulators on audit quality has changed the direction and nature of the regulatory landscape for firms.   The session will discuss the increased focus on a firm’s quality management systems and what it means for upcoming inspections. 

While firms performing assurance engagements needed to have implemented  CSQM1 and CSQM2 by December 15, 2022, many firms are still not fully compliant, especially when it comes to the annual monitoring and remediation programs.   The session will briefly review the key elements of a firm’s system of quality management and discuss monitoring activities that need to be completed by the end of 2025.

As firms begin to focus on AI tools and outsourcing solutions to improve efficiency and deal with resource constraints, these don’t come without challenges.   We will discuss issues that need be considered when considering AI tools and off-shoring or outsourcing elements of assurance engagements. 

Learning Objectives:

• Understand the direction and nature of the regulatory landscape for firms.
• Review the key elements of a firm’s system of quality management and discuss monitoring activities that need to be completed by the end of 2025.
• Review risks and opportunities that AI tools and off-shoring or outsourcing can present to a firms system of quality management.

Program Information:

• CPE: 1.5 hour
  
• Field of Study: Auditing     
• Delivery Method: Group Internet Based
  
• Level:  Intermediate
• Prerequisites: Experienced CPA or CPA student with experience in performing assurance engagements.

Speaker Information

Marcus A. Guenther, CPA, CA, MBA

Marcus Guenther is the managing partner of FocusHGK LLP, which provides quality management, monitoring, EQCR and other consulting services on complex accounting or assurance matters. It is one of the few firms that is solely dedicated to providing services to CPA firms as opposed to making it a consulting service as part of their full-service assurance and tax practice.

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.  

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AGN International – Americas, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.