Upcoming Changes to the Compilation Standards
NOTE: This will be an online Zoom event.
Our speaker will be Ray Mack, one of Kenway Mack Slusarchuk Stewart LLP's (KMSS) four founding partners.
The new compilation engagement standard, Canadian Standard on Related Services (CSRS) 4200, Compilation Engagements was issued February 2020 effective for periods ending on or after December 14, 2021. Although not coming into effect for some time, there are aspects of the standard that require immediate attention.
In this session we will review the major areas of the standard including:
- scope
- engagement acceptance
- work effort
- documentation
- report
- describing the basis of accounting
- enhanced focus on communication
We will use the Implementation Tool for Practioners as a guide as to how the changes will affect us in practice, with the objective of showing that the changes may not dramatically change what we are doing today.
Ray will share the background to the information presented. Will this result “in non-CPAs taking over the compilation business” or is it an opportunity to rethink the services we provide to our clients?
A clear understanding of the standard will show that there are real opportunities for those of us willing to rethink our client service model.
About the Speaker
Ray earned his Bachelor of Commerce degree from the University of British Columbia in 1973 and attained his CA designation in 1975. Ray’s primary focus at KMSS is general practice, providing financial consulting for his small-business clients.
His distinguished career includes being the President of DFK Canada from 1995-1998, President of the Institute of Chartered Accountants of Alberta from 2000-2001, and President of DFK International from 2006-2008.
Recognizing Ray’s significant contribution to the profession, he received his FCA designation in 2000. Ray serves on the CPA Canada Compilation Engagements Guidance Task Force.
**NOTE**
Registration cutoff is 3:00 PM on September 15th. No late registrants please. Registration must be completed prior to this time.
Please pass this event information on to your colleagues. Only members can register, but members can add non-member guests to their registration. Please see the main events page for more details on registering.
If you have a problem registering please contact Richard Sherry at Richard@TheBookkeepingDepartment.ca.