Certain aspects of conducting compilation engagements can pose challenges for practitioners. This might be due to a lack of clear understanding of the standards or difficulties encountered in their application. The purpose of this course is to tackle hot topics related to carrying out compilation engagements in accordance with CSRS 4200
This is not a technical course but rather a practical session that focuses on matters of importance such as understanding scope exclusions, determining intended users of the compiled financial statements and drafting the basis of accounting note. The session will also delve into knowledge of the business and file documentation requirements.
Through an exploration of the standard, illustrative examples and guidance on practical application you will strengthen your ability to conduct effective and efficient engagements.
By the end of the session participants will be able to:
- Implement effective strategies in performing compilation engagements
- Analyze scope exclusions and consider the business impact
- Prepare inquiries of management and assess the impact of intended users of the financial information
- Prepare the basis of accounting note
- Draft compilation engagement report
- Appreciate documentation requirements