Accounting, Assurance and Other Related Service

Accounting:

• ASPE alert: Accounting for related party financial instruments and significant risk disclosures (CPA Canada, 2019) -  PDF

Audit Engagements:

• Using Canadian Auditing Standards to Your Advantage (2013) -  PDF
• Auditing Sales – Reminders -  PDF
• Understanding reports on financial statements: Audit, review and compilations. (CPA Canada, 2020) -  PDF
• Reporting implications of Canadian Auditing Standards (CAS) (CPA Canada, 2019)
• Audit and Assurance Alert: CAS 540, Auditing accounting estimates and related disclosures (CPA Canada, 2019) -  PDF
• Audit & Assurance Risk Alert - Revised CAS 315, Identifying and Assessing the Risks of Material Misstatement (CPA Canada, 2020)

Review Engagements:

• Guide to Review Engagements (CSRE 2400) (CPA Canada, 2016)
• Reporting implications of CSRE 2400 (CPA Canada, 2018)
• Review engagement practitioner client briefing (CPA Canada, 2017)
• Practice inspection’s preliminary observations regarding the new review engagement standard (CPA Canada December 2018)

Compilation Engagements:

• New compilation standard: Guidance resources (CPA Canada, 2020)

Ethics

Ethics and ethical behaviour are the foundation of the trusted work of accountancy.

• Confidentiality of Information (CPA Ontario, 2021)
• Resigning From an Assurance Engagement (February, 2021) - PDF
• Ethics And Independence Considerations Relating To Covid-19 - (2020) -  PDF
• Holding Client Files as Ransom - (updated 2018) -  PDF

Fees

Understand issues relating to charging and collecting fees as an accounting professional.

• Minimum Fees and Fee Collection - (updated 2018) -  PDF
• A Simple Step to Minimize Fee Disputes - (updated 2018) -  PDF

File Retention

Successful management and retention of files is key to a successful practice.

• What to Keep and For How Long? - (updated 2018) -  PDF
• Electronic Record Keeping (Canada Revenue Agency)
• Keeping Records (Canada Revenue Agency)

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.

• Providing Accounting Services To The Public – Bookkeeping (2021)
• Providing Accounting Services To The Public – Taxation Services (2021)

Fraud

Accounting and finance professionals encounter fraud on a regular basis.

• Implementation tool for auditors: Testing journal entries & responding to the risk of management override of controls (CPA Canada 2015)
• An Ounce of Prevention: Combatting Fraud in Not-for-Profits (AICPA, 2020)
• New anti-money laundering guide (CPA Canada 2014)
• How accountants can help fight money laundering (Pivot Magazine, April 2020)

Independence

Independence is a cornerstone of assurance engagements.

• Guide to Canadian Independence Standard - (updated 2016) -  PDF
• Clarification on 2010 Changes to Independence Rule in respect of Partner Rotation - (updated 2018) -  PDF
• Update on Annual Communication of Independence Matters - (updated 2018) -  PDF
• Your Ability to Act as an Executor or Trustee for Your Clients - (updated 2018)  -  PDF

Practice Management

Understanding engagement risk is critical to public practice.

• Risk Management For Accountants – The Impact of COVID-19 on Assurance Engagements (June, 2020)
• AGM Roles and Rules for Public Accountants - (updated 2018) -  PDF
• Surprise! Compilation Engagement Claims Exist - (Winter 2011 CheckMark) -  PDF
• Let the Good Times Roll but be Wary of the Increased Risk - (Spring 2006 CheckMark) -  PDF
• The Risks of Auditing a Credit Union - (June 2009 Chartered Accountant Risk Management Newsletter) -  PDF
• Notice to Reader: Limited Responsibility with Potentially High Risk - (Winter 2005 CheckMark) -  PDF
• IFAC Guide to Practice Management for Small- and Medium-Sized Practices (IFAC, 2020)

Public Accounting Licences

Understand issues relating to fulfilling the public accounting licence requirements in Ontario

• Claiming Hours Not Charged to Clients as Eligible Hours for Public Accounting Licence Renewal - ( updated 2018) -  PDF

Other Articles

Public accounting, taxation, wealth management and election guidance.

• Public Accounting: Association with Non-Members in Public Practice - (updated 2018) -  PDF
• Impact of New Rule 216 Commission or Similar Compensation Arrangements - (updated 2018) -  PDF
• Election Guidance: Attention CFOs, Official Agents, and Auditors of Election Candidates - (updated April 2020) -  PDF
• CPA Canada Taxation Resources (CPA Canada)

Succession Planning

Planning well in advance of potential problems in your practice is crucial. Here are some things you need to know.

• Practice Continuation Plan — Your Legacy for Others - (updated 2018) -  PDF
• The Partnership “Prenup”: Responsibly Managing Dissolutions - (Autumn 2010) -  PDF

Technology

The issues of cloud computing, cybersecurity and privacy have sweeping implications.

• 3 things you need to do before moving to the cloud (CPA Canada, 2019)
• ERM for Cloud Computing - (COSO 2012) -  PDF
• Invest in Security Now or Pay Later - (2009) -  PDF
• Guidance on Managing Cyber Risks in a Digital Age (COSO, 2019) -  PDF
• Cloud computing: Benefits and risk management (CPA Canada, 2019) -  PDF
• Cybersecurity and Data Protection (CPA Canada, 2019)
• Cybersecurity bulletin for directors (CPA Canada, 2019)
• 20 Questions Directors Should Ask About Cybersecurity (CPA Canada, 2019)