Audits - Simple Entity (On-Demand - CPA PRO)
Overview
An auditor must conduct audit engagements in accordance with Canadian Auditing Standards (CAS), regardless of the complexity, size or nature of the client. However, it can be challenging to understand how to apply certain CASs to a simple entity in an efficient and effective manner. Through the use of case studies, practical examples and interactive discussions, this seminar will provide auditors a better grasp of CAS requirements along with how to apply the standards in a practical way in the audit of a simple, or less complex, client.
Access expires 180 days from purchase date |
Course Description
This seminar will help auditors to better understand and apply the CAS requirements in the context of a simple entity. The seminar will review the key concepts of CAS and their application, taking into consideration unique aspects specifically related to the characteristics of a simple entity. Using case studies and practical examples along with the opportunity to ask questions and participate in interactive discussions, this session will review various alternatives in meeting CAS requirements resulting in more effective and efficient engagements. This course will include changes related to Revised CAS 315 and scalability on less complex estimates along.
This seminar will also provide a high level overview of upcoming Quality Management Standards (CSQM 1 and 2 and Revised CAS 220).
Applicable for
Learning Objectives
- interpret CASs in the context of a simple entity
- identify challenges in applying the CASs in the audit of a simple entity and design appropriate audit responses to ensure conduct quality audits
- recognize opportunities for efficiencies
- select appropriate tools and templates to meet documentation standards
- apply case study facts to the audit of other client engagements
- design and perform appropriate audit procedures to address the risk of material misstatement
Content
- introduction – CAS overview, definition of simple entity, examination of Discussion Paper on LCEs
- initial activities – client acceptance and continuance, engagement letters
- risk assessment procedures – materiality, understanding the entity, team planning meeting, additional required risk assessment procedures including auditing estimates
- risk assessment procedures – understanding the components of internal control, design and implementation of controls
- risk assessment procedures – assessing the risk of material misstatement
- responding to risk – substantive audit procedures (including analytical review procedures and tests of detail), control testing opportunities, journal entry testing, sampling
- concluding and reporting – communications with TCWG, assessing misstatements, audit report
Course Content Created: August 2023
The information is current as of the creation or last updated date. While we strive to keep our inventory updated and periodically remove outdated titles, changes in accounting, tax, legislation and technology may occur. Purchasers should note the date and verify for themselves if the course is still relevant to their needs.Presenter
Kirsten S. Albo, FCPA, FCA, ICD.DAbout This Product
On-Demand Courses by CPA PRO are either video recordings from live seminars, or video recordings produced specifically for the on-demand audience. Slides and any corresponding handout materials are included where available.These titles are eligible for Verifiable CPD Hours – in order to claim these hours as verifiable, you will be required to successfully complete a short quiz. You will be able to print or save your electronic certificate of completion.
Note that some courses comprise both formal instruction and self-directed exercises. In such cases, participants must complete both components to claim full CPD hours, or must reduce their reported CPD hours accordingly.
Please note that not all on-demand courses include downloadable materials such as course notes or slides.
How to get started
Upon completion of purchase, go to mylms.bccpa.ca and log in using your CPABC Online Services credentials. Click “Go to your Courses and Materials” to go to your Learning Center, then find and click on your course title.
Course Dates & Registration
- 7
- CPD Hours
- 1
- Ethics Hours
- 0
- AML Hours
- 10
- Credits
Starting April 1, 2026, a 2.1% fee will be applied to all credit card transactions. Learn more about this fee and how it relates to PD registrations.
Audits - Simple Entity (On-Demand - CPA PRO)
- 7
- CPD Hours
- 1
- Ethics Hours
- 0
- AML Hours
- 10
- Credits
Overview
An auditor must conduct audit engagements in accordance with Canadian Auditing Standards (CAS), regardless of the complexity, size or nature of the client. However, it can be challenging to understand how to apply certain CASs to a simple entity in an efficient and effective manner. Through the use of case studies, practical examples and interactive discussions, this seminar will provide auditors a better grasp of CAS requirements along with how to apply the standards in a practical way in the audit of a simple, or less complex, client.
Access expires 180 days from purchase date |
Course Description
This seminar will help auditors to better understand and apply the CAS requirements in the context of a simple entity. The seminar will review the key concepts of CAS and their application, taking into consideration unique aspects specifically related to the characteristics of a simple entity. Using case studies and practical examples along with the opportunity to ask questions and participate in interactive discussions, this session will review various alternatives in meeting CAS requirements resulting in more effective and efficient engagements. This course will include changes related to Revised CAS 315 and scalability on less complex estimates along.
This seminar will also provide a high level overview of upcoming Quality Management Standards (CSQM 1 and 2 and Revised CAS 220).
Applicable for
Learning Objectives
- interpret CASs in the context of a simple entity
- identify challenges in applying the CASs in the audit of a simple entity and design appropriate audit responses to ensure conduct quality audits
- recognize opportunities for efficiencies
- select appropriate tools and templates to meet documentation standards
- apply case study facts to the audit of other client engagements
- design and perform appropriate audit procedures to address the risk of material misstatement
Content
- introduction – CAS overview, definition of simple entity, examination of Discussion Paper on LCEs
- initial activities – client acceptance and continuance, engagement letters
- risk assessment procedures – materiality, understanding the entity, team planning meeting, additional required risk assessment procedures including auditing estimates
- risk assessment procedures – understanding the components of internal control, design and implementation of controls
- risk assessment procedures – assessing the risk of material misstatement
- responding to risk – substantive audit procedures (including analytical review procedures and tests of detail), control testing opportunities, journal entry testing, sampling
- concluding and reporting – communications with TCWG, assessing misstatements, audit report
Course Content Created: August 2023
The information is current as of the creation or last updated date. While we strive to keep our inventory updated and periodically remove outdated titles, changes in accounting, tax, legislation and technology may occur. Purchasers should note the date and verify for themselves if the course is still relevant to their needs.Presenter
Kirsten S. Albo, FCPA, FCA, ICD.DAbout This Product
On-Demand Courses by CPA PRO are either video recordings from live seminars, or video recordings produced specifically for the on-demand audience. Slides and any corresponding handout materials are included where available.These titles are eligible for Verifiable CPD Hours – in order to claim these hours as verifiable, you will be required to successfully complete a short quiz. You will be able to print or save your electronic certificate of completion.
Note that some courses comprise both formal instruction and self-directed exercises. In such cases, participants must complete both components to claim full CPD hours, or must reduce their reported CPD hours accordingly.
Please note that not all on-demand courses include downloadable materials such as course notes or slides.
How to get started
Upon completion of purchase, go to mylms.bccpa.ca and log in using your CPABC Online Services credentials. Click “Go to your Courses and Materials” to go to your Learning Center, then find and click on your course title.
Course Dates & Registration
Starting April 1, 2026, a 2.1% fee will be applied to all credit card transactions. Learn more about this fee and how it relates to PD registrations.