Review Engagement Refresher - 2021

Review engagements are by far the most popular method by which practitioners provide assurance on information produced by their privately-owned clients. However, many practitioners are concerned about recent changes made to the review engagement standards and the impact of those changes on providing review services.

 This presentation is intended to provide an in-depth study of the requirements of the CPA Canada Assurance Handbook regarding review engagements.  Topics to be addressed will include:

·    Overview of the standards

·    Pre-engagement requirements

·    Materiality

·    Understanding the entity and its environment

·    Minimum procedures required in all review engagements

·    Customizing review procedures to meet client needs

·    Evaluating evidence and concluding the review

·    Issuing the review engagement report

This course will provide a step-by-step approach and practical suggestions intended to increase efficiency and reduce risk in the performance of review engagements.  Highlights of recently reported common practice inspection findings for review engagements will also be discussed.

 In addition to the course material discussed during the presentation, supplemental material will be provided containing sample required correspondence and examples of review engagement reports.