Relevant ethical requirements (RER) are a key component to a firm’s system of quality management (SoQM) and a cornerstone of the CPA code of conduct. Ethical and independence requirements for CPAs are contained in the provincial CPA Codes of Conduct (COPC)
The session will review key aspects of the RERs outlined in CSQM1 and discuss how firms could address these risks in designing firm policies in their SoQM.
The session will also review key requirements relating to independence and ethics as required by the COPC, specifically:
· The importance of ethics and independence in building client trust and relationships
· Review of key independence standards in the CPA Code of Conduct
· Case study examples of ethical or independence threats that can arise in assurance engagements
· Impact of assessing and maintaining independence in assurance engagements.
The goal of the session is to assist teams with identifying, documenting and assessing potential independence or ethical issues and designing appropriate responses to address potential threats to independence.
This course will provide you with 2 Structured PD Credits towards your 4 hour triennial requirement which began Jan 1 2022 and ends Dec 31 2024.
Marcus Guenther MBA, CPA, CA
Marcus Guenther works with corporations and accounting firms to improve their workflow, internal control and risk management practices, as well as assisting with technical accounting and auditing issues. He is the co-author of the CICA Professional Engagement Manual (CPEM) as well as other technical publications and articles and teaches accounting, IFRS, and auditing and assurance courses for numerous professional organizations.