Our Services

ASK KSA offers consulting and advisory services to SMPs to help ensure they are onside with standards and regulatory requirements. We help firms conduct engagements in an effective and efficient manner. We help save time and achieve peace of mind.

ASK KSA provides personalized service tailored to the specific requirements and circumstances. We spend time listening and understanding the needs for each individual assignment. We spend time getting to know the firm, along with their challenges, goals and objectives. Our advice and approach is customized allowing firms to focus on their clients’. We provide useful and unbiased feedback that can only come from someone who has “been there, done that”. Working with ASK KSA is like adding an experienced business advisor to your team.
 
 

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Public accounting firms must comply with Canadian Standard on Quality Control (CSQC 1) which addresses a firm's responsibilities related to quality in their assurance engagements. A firm must establish and maintain a system of quality control to provide reasonable assurance that the firm and its personnel comply with professional standards. We can assist in meeting all these requirements.

We perform external annual monitoring and conduct file inspections. Our methodology identifies gaps in meeting standards but as importantly, identifies efficiency opportunities in conducting engagements. We can also help in ensuring your firm has the right policies and procedures in place related to quality control and can help update or draft the firm’s Quality Assurance Manual including making best practice recommendations.

We help ensure that your firm is onside with standards, help reduce your risk and implement quality control processes that are practical and effective.

Specific services include:

  • Performing annual monitoring procedures
  • Reviewing quality control policies and procedures and recommending best practices
  • Performing cyclical file reviews (peer inspections)
  • Assistance in applying and complying with relevant standards
  • Reviewing and updating Quality Assurance Manual
  • Undertaking compliance assessment and gap analysis

Provincial CPA bodies protect the public interest through rigorous educational and certification programs and ensure their members uphold the highest professional and ethical standards. One of the ways they fulfil this mandate is through a mandatory program of inspecting CPA firms that offer public accounting services.

Public accounting firms that perform assurance, compilation and other specified engagements, regardless of size, are subject to practice inspections. The objective of a practice inspection is to assess compliance with professional standards for each of these types of engagements.

We assist you in all aspects of the practice inspection process. Support is provided through a pre-inspection consultation, an independent file review or assistance in developing a corrective action plan.

Specific services include:

  • Navigating through the process
  • Completing an independent review of files pre- or post- inspection
  • Assisting in preparing response to practice inspection findings
  • Drafting a corrective action plan
  • Developing appropriate follow up or remedial actions in instances of non-compliance
  • Supporting the implementation of corrective actions
  • Monitoring of timeframe of recommendations

Firms want to ensure that they are conducting their engagements in the most effective and efficient way possible. Spending the right amount of time and the right amount of effort on engagements allows firms to focus on their clients. We know that clients do not care what is documented in engagement files but quality standards still have to be met. We help you do this at all stages of the work.

We help to ensure you are meeting standards at each stage of the engagement. Without sacrificing quality, we help you plan, execute and complete your engagements in an effective manner saving you time and increasing your margins.

Specific services include:

  • Reviewing planning approach and recommending alternatives
  • Providing recommendations on file efficiencies
  • Offering feedback on specific areas of concern
  • Reviewing completed engagements
  • Developing tools and templates for improved job performance
  • Evaluating of specific audit procedures and sample sizes
  • Reviewing completion documentation for improved efficiencies
  • Live file review and coaching

In accordance with firm policies, certain engagements may require an Engagement Quality Control Reviewer (EQCR). Or, a firm may encounter a situation which requires consultation as they have never come across a certain matter previously. We act as your external EQCR to review files and provide practical recommendations.

We have a proven and practical approach to help meet all requirements and to help protect the firm from risk.

Specific services include:

  • Completing an EQCR review
  • Performing financial statement review
  • Assisting in the research and documentation of issues
  • Recommending resolutions on complex matters

In public practice SMPs encounter complex accounting or assurance issues, it is the nature of the business. There may be times where an unbiased viewpoint or a second set of eyes is needed. We provide support in analyzing and concluding on unusual financial issues, reviewing financial statement presentation and disclosure, and providing general consultation when needed. An independent advisor who has “been there, done that” can be a valuable resource.

The ever-changing standards make it even more challenging to keep up. We can assist in the implementation of new standards to minimize disruption to the firm.

We have the experience to understand what is required to move to the next step in turn, providing quicker resolution of issues. We provide peace of mind.

Specific services include:

  • Providing guidance on resolution of matters
  • Assisting in researching and documenting an issue
  • Reviewing financial statement presentation and disclosure matters
  • Providing an independent and unbiased viewpoint on difficult or contentious matters
  • Recommendations on next steps and resolution

With today’s ever-changing standards, it can be challenging to keep up and ensure that the engagements performed are meeting all requirements. We deliver a full slate of professional development courses to help practitioners and staff understand and apply the standards in a practical and efficient manner. We assist partners and staff in keeping up-to-date and understanding the most recent standards. Whether in-person or on-line, we provide training specifically tailored to your firm’s clients and industries, so they are practical and enjoyable.

We have a full course curriculum available. The courses offered are all tailorable to an audience of 1 to 100.

Specific services include:

  • Developing and delivering in-house training courses
  • Explaining best approach to completing the firm’s tools and templates
  • Training on all new assurance and other standards
  • Training on efficient documentation to meet assurance and other standards
  • Training on specific audit procedures such as analytical review or journal entry testing