Guidance on Compliance
Find informative thinking, insights, resources and guidance on the accounting profession, including topics such as cybersecurity, fraud, wealth management, and the implications of Covid-19. We've compiled for you the latest and most relevant publications from CPA Ontario, CPA Canada and other professional organizations and standard setters.
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Accounting, assurance and other related services
- ASPE Alert: Amendments to Section 3462, Employee future benefits (CPA Canada, 2021)
- ASPE Briefing: Section 3400, Revenue (CPA Canada, 2021)
- ASPE Briefing: Accounting for Investments (CPA Canada, updated 2021)
- ASPE Summary Resources Guide (CPA Canada, 2021)
- ASPE Alert: Accounting for related party financial instruments and significant risk disclosures (CPA Canada, 2019)
- An introduction to accounting for cryptocurrencies under ASPE (CPA Canada, 2019)
- ASPE Briefing: Retractable or mandatorily redeemable shares issued in a tax planning arrangement (CPA Canada, 2019)
- GASPE Chapter 45: Financial instruments (CPA Canada, 2019)
- Climate-related risks of an audit of financial statements: Audit and assurance alert (CPA Canada, 2021)
- Corporate governance: Ask the right questions (Directors’ guide 2020/21) (CPA Canada, 2021)
- Guide for practitioners: Roadmap to the CPA Canada Handbook - Assurance Tool (CPA Canada, 2021)
- Implementation tool for auditors: Revised CAS 315, risks of material misstatement (CPA Canada, 2021)
- Sustainability assurance resources (CPA Canada, 2021)
- Understanding assurance needs: A framework for the decision-maker (CPA Canada, 2021)
- Revised CAS 540: Guidance resources (CPA Canada, 2020)
- Understanding reports on financial statements: Audit, review and compilations (CPA Canada, 2020)
- Reporting implications of Canadian Auditing Standards (CAS) (CPA Canada, 2019)
- Practice inspection’s preliminary observations regarding the new review engagement standard (CPA Canada, 2018)
- Reporting implications of CSRE 2400 (CPA Canada, 2018)
- Review engagement practitioner client briefing (CPA Canada, 2017)
- Guide to Review Engagements (CSRE 2400) (CPA Canada, 2016)
- New standard on compilation engagements: What does it mean for tax work? (CPA Canada, 2021)
- New compilation standard: Guidance resources (CPA Canada, 2020)
Our suggested resources provide relevant information that addresses the global situation and the impact to the profession.
- AcSB COVID-19 resources: IFRS, ASPE and NFPOs (Accounting Standards Board, 2021)
- PSAB COVID-19 resources (Public Sector Accounting Board, 2021)
- COVID-19: Financial reporting implications and resources (CPA Canada, 2021)
- COVID-19 resources for not-for-profits (CPA Canada, 2021)
- AASB COVID-19 resources (Auditing and Assurance Board, 2021)
IAASB guidance for auditors during coronavirus pandemic (The International Auditing and Assurance Standards Board, 2021)
- Common inspection findings when auditing accounting estimates (The Canadian Public Accountability Board, 2021)
- COVID-19 key audit considerations and resources (CPA Canada, 2021)
- CPAB Audit Quality Insights Report: 2021 Interim Inspections Results (The Canadian Public Accountability Board, 2021)
- CPAB COVID-19 audit considerations and insights (Canadian Public Accountability Board, 2021)
- CSA COVID-19 updates (The Canadian Securities Administrators, 2021)
- Key findings of the FRC's review of the viability and going concern disclosures included in certain annual reports (The Financial Reporting Council, 2021)
Tax and other relief measures
Ethics and ethical behaviour are the foundation of the trusted work of accountancy.
- Association with Non-Members (2021)
- Commission or Similar Compensation Arrangements (2021)
- Confidentiality of Information (2021)
- IESBA COVID-19 ethics and independence resources (International Ethics Standards Board for Accountants, 2021)
- Resigning From an Assurance Engagement (2021)
- Understanding How the CPA Code Applies to Members (2021)
- Ethics And Independence Considerations Relating To Covid-19 (2020)
Understand issues relating to charging and collecting fees as an accounting professional.
- Setting and Collecting Fees (2021)
Firm registration series
A series of articles that provide guidance on when a member is providing accounting services to the public, and would need to register a firm with CPA Ontario.
Accounting and finance professionals encounter fraud on a regular basis.
- An Ounce of Prevention: Combatting Fraud in Not-for-Profits (AICPA, 2020)
- How accountants can help fight money laundering (Pivot Magazine, 2020)
- Implementation tool for auditors: Testing journal entries & responding to the risk of management override of controls (CPA Canada, 2015)
- New anti-money laundering guide (CPA Canada, 2014)
Independence is a cornerstone of assurance engagements.
Understanding engagement risk is critical to public practice.
- The Public Accountant's Role at the Annual General Meeting of Shareholders (2021)
- Risk Management For Accountants – The Impact of COVID-19 on Assurance Engagements (CPA PLI Plan, June 2020)
- IFAC Guide to Practice Management for Small- and Medium-Sized Practices (IFAC 2020)
- Surprise! Compilation Engagement Claims Exist (AICA 2011)
- The Risks of Auditing a Credit Union (AICA 2009)
- Let the Good Times Roll but be Wary of the Increased Risk (AICA 2006)
- Notice to Reader: Limited Responsibility with Potentially High Risk (AICA 2005)
Public accounting, taxation, wealth management and election guidance.
Planning well in advance of potential problems in your practice is crucial. Here are some things you need to know.
The issues of cloud computing, cybersecurity and privacy have sweeping implications.
- How Automation can Improve Audit Quality - and Speed up the Process (CPA Canada, 2021)
- Technology in audit (The Canadian Public Accountability Board, 2021)
- The Data-Driven Audit: How Automation and AI are Changing the Role of the Auditor (CPA Canada, 2020)
- 20 Questions Directors Should Ask About Cybersecurity (CPA Canada, 2019)
- 3 things you need to do before moving to the cloud (CPA Canada, 2019)
- Cloud computing: Benefits and risk management (CPA Canada, 2019)
- Cybersecurity and Data Protection (CPA Canada, 2019)
- Cybersecurity bulletin for directors (CPA Canada, 2019)
- Guidance on Managing Cyber Risks in a Digital Age (COSO, 2019)
- ERM for Cloud Computing (COSO, 2012)
- COSO Guidance on Operational Performance, Internal Control, Enterprise Risk Management, and Fraud Deterrence (COSO)
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