May 2021 Update

Greetings,

This is a very special month. ASK KSA PD has officially launched. I am now offering online on demand professional development courses focused on helping practitioners conduct effective and efficient engagements and meet the requirements of being in public practice. This is a new venture which I am really excited about. This month’s update is focused on the new quality management standards and my activity related to this including a published article and a free ASK KSA PD course. Read on…

Preparing for the new quality management standards: An overview for Canadian practitioners

This time the article I am linking to is one of my own.  I wrote a four-part series on CSQM 1 and its requirements for Canadian Accountant Magazine. It is important to be aware of the upcoming standards as these will have an impact on all firms – regardless of their size. The standards emphasize leadership and the establishment of a system of quality management, not just engagement quality control. 

Part 1 of the series is an overview of the new suite of quality management standards, Part 2 covers establishing quality objectives and identifying and assessing quality risks, Part 3 provides details on designing and implementing risks responses and Part 4 explains evaluating the system of quality management. 
READ PART 1 HERE (Parts 2, 3 and 4 follow each day this week)

The new suite of quality management standards, comprised of CSQM 1, CSQM 2 and Revised CAS 220, is officially in the Handbook.
ACCESS KNOTIA HERE 

ASK KSA PD
Informative. Practical. Engaging.

ASK KSA PD courses officially launched this month. We are excited to deliver professional development courses that qualify for verifiable CPD for CPAs. The focus of all courses is to help practitioners perform effective and efficient engagements and meet the requirements of being in public practice. 

Courses cover categories related to:

  • Canadian Auditing Standards
  • Other Canadian Standards
  • Practice Management
  • Quality Management
  • Ethics

Free PD Course: Overview of New Canadian Quality Management Standards

To help practitioners prepare for the new quality management standards, ASK KSA PD is offering a free course to help appreciate the requirements of the new standards. A system of quality management is required to be in place by December 15, 2022 with monitoring and remediation to be performed within the year after. Business decisions are required to develop and implement a system of quality management in accordance with the new standards. This course will help practitioners as they address the business implications to their firm.

REGISTER FOR ASK KSA PD COURSE HERE

This has been an exciting month, despite our tightening provincial restrictions. I look forward to being able to get out more once again, both with clients and my family. In the meantime, I continue to focus on assisting practitioners save time and achieve peace of mind. I am here when needed. 

Best regards,
Kirsten S. Albo, FCPA, FCA
President
1.204.228.2529

www.ksaconsultinginc.com