Accounting, Auditing and Professional Practice Update
This course is designed to review recent revisions to the CICA Handbook, specifically Accounting - Part II (ASPE), Accounting Standards for Not-for-Profits (Part III), and Assurance, as well as other sources. It also includes an outline of the changes in IFRSs, but this will not be emphasized. This course is designed as an update, yet it provides specific examples of the implementation of the new recommendations and practice guidance on other matters that are current and relevant to the participants.
Who Will Benefit:
This course provides an overview of the current developments in accounting and assurance standards. It is best suited to members who practice public accounting, serving small and medium-sized businesses.
At the end of the course participants will be:
Aware of recent CICA pronouncements in accounting and assurance
Able to identify the potential impact on clients and their practice, of the recent CICA pronouncements
Able to apply recent CICA pronouncements in some situations
Introduction and overview of new standards
Review of all changes to CICA Handbook – Accounting
Review of matters discussed by the Private Enterprise Advisory Committee
Illustration of problem areas in the application of ASPE and Accounting Standards for Not-for-Profit Organizations, based on practice inspection and other sources, e.g., financial instruments
Other practice matters including a review of practice inspection findings
Exposure drafts and other projects in process for accounting and assurance, including an update on the status of the projects on review engagements and notice to readers
Those interested in an in-depth review of the changes to Part I (IFRS) of the CICA Handbook should consider attending the IFRS - Update 2013 course and those interested in a more in-depth review of Part III for Not-for-Profit Organizations should consider attending the full day course: Not-for-Profit Organizations – A Survey of Standards Under Part III of the Handbook.