June 2023
Greetings,
June 30, done. From talking to many of you in the past while, it seems this year has been busier than usual. Now you can catch your breath for a moment after this bustling month. This month’s update will shed some light on changes in proposed standards and practice management topics ensuring you stay updated and aligned with best practices. Read on…
Are you sure you don't have a group audit? CAS 600
Canadian Auditing Standard (CAS) 600 was issued in the CPA Canada Handbook – Assurance some time ago. CPA Canada recently prepared an excellent briefing on whether or not you may have group financial statements or a group audit.
Even though the standard is not effective until audits of financial statements for periods beginning on or after December 15, 2023, the guidance is very helpful now in determining whether or not the standard, whether extant or revised CAS 600 applies. I see comments on group audit issues coming up more and more in practice inspection reports. Don’t get caught.
READ CPA CANADA FAQ HERE
Practitioner's Pulse Free June 2023 Webinar
CAS 570 Going Concern Exposure Draft was released some time ago. The topic of the quarterly Practitioner’s Pulse webinar focuses on going concern issues. While in the Exposure Draft stage, it is helpful to understand the proposed changes. CPA Canada now has on demand webinar available to those who may be interested in hearing highlights from CPAB’s thematic review on Going Concern and learn about proposed changes to CAS 570 from the AASB. Bonus… this free webinar counts as verifiable CPD.
REGISTER FOR THE ON DEMAND JUNE 2023 PRACTITIONERS’ PULSE WEBINAR HERE
How to have empowering career conversations
The number one challenge I hear from firms these days is the retention of staff. If we don’t equip ourselves with the skills to hold great career conversations with our staff, we risk losing talent to our competitors or retaining people who are left to stagnate. An excellent article from HRZONE offers practical tips and example questions for professionals to hold great career conversations and build a culture of ongoing development.
READ ARTICLE HERE
How to disagree productively
In our profession, there are many times we must disagree… within the office or with our client, conflicts may arise. However, disagreements don’t have to be destructive. They can be opportunities to come up with better ideas. But handling conversations with someone with a conflicting point of view is far from easy. In this HBR article, the authors identify three strategies which can help.
READ HBR ARTICLE HERE
[Free Webinar] CSQM 1 Implementation Blueprint
If you’re looking to understand what the changes mean for YOUR firm… or if you’re struggling to get started on your CSQM implementation plan… or if you are a late adopter and should have designed and implemented your system of quality management…
Join me on July 25 @ 2 pm CDT (3 pm EDT) for my free Webinar on CSQM 1 where I will share my CSQM 1 Implementation Blueprint with you.
Many practitioners have some idea of what’s coming but haven’t yet started. The reality is a lot of firms are underestimating what needs to be done to meet the requirements.
It is estimated it could take upwards of 100 hours to properly implement the changes. These are hours you probably don’t have. ASK KSA can save you a lot of time.
Over the past year, we coached many clients on implementation. In this webinar, we share our blueprint with you. You will walk away with massive clarity on CSQM 1 and confidence in your path forward.
And, since the session is live you will have a chance to ask any question that is on your mind.
Don’t forget, this session counts as free verifiable CPD. And… if you join in you will hear bonuses about CSQM 1 workshops that are for attendees only.
LOCK IN YOUR SPOT FOR THE JULY 25 (@ 2 pm CDT/3 pm EDT) FREE WEBINAR HERE
Another month has come to a close. It has been a busy one… This past week has been especially busy for me. I just finished production on five new ASK KSA PD courses…
Check out the Linked In ASK KSA Page for action shots!!
My objective is to develop courses that are practical, engaging and informative to help you conduct effective and efficient engagements. I am proud of what has been accomplished. Stay tuned for details as we move closer to launch day early this fall.
Reach out any time if needed. I am always here to help you save time and achieve peace of mind. In the meantime, have a wonderful long weekend. Take the time to enjoy being with family and friends. I know I will. Golf and grandkids are on my agenda.
Best regards,
Kirsten S. Albo, FCPA, FCA
President