This course will assist firms that practice exclusively in the non-assurance area to understand, apply, and document its System of Quality Management (“SOQM”) in accordance with the new standard CSQM 1.  The participants will identify quality objectives, risks, and responses for a few of the quality objective components during the workshop, by completing various workshop-developed forms that have been, in some instances, adapted from the Quality Management Guide (QMG).  The course will also demonstrate the application and documentation of the monitoring and remediation process.

This half-day workshop requires active participation by those in attendance.  It is a hands-on experience where participants must be actively involved in building their firm’s QMG.  Participants are expected to have a working knowledge of the new standard, as the objective is to assist the participant in applying the requirements.  Participants will gain experience identifying quality risks and responses and tailoring a monitoring and remediation process applicable to their firm.

The delivery of the material takes the participants through various forms and how they interact with each other to meet the requirements of CSQM 1.  During the course, participants will be given time to begin to develop their own QMG documentation.  The course is not intended for the participants to complete the documentation of their SOQM but to introduce a methodology that can be used to complete their documentation after the workshop.

LEARNING OBJECTIVES 

• Have a better understanding of the requirements of CSQM 1.

• Apply the requirements of CSQM 1.

• Continue to build their firm’s SOQM after the workshop as a result of the hands-on experience.

• Meet the documentation standards of CSQM 1. 

CONTENT

• The firm’s leadership roles and responsibilities.

• Understanding the nature and circumstances of the firm and its engagements.

• Identifying and assessing quality risks.

• Developing responses for identified quality risks, including using a sample of responses adapted from the QMG.

• The monitoring and remediation process, including the development of the nature, extent and timing of monitoring activities.

• Assessing a deficiency as to its severity, pervasiveness and root causes and determining a remedial action.

• Who can be a monitor?

• Understanding and documenting the requirement for the annual evaluation of the SOQM.

PREREQUISITES 

Quality Management – Overview of CSQM 1 and 2 for Providers of Compilation and Other Non-Assurance Services New Standards.

*An overview of the standard will not be included in the workshop. 

WHO WILL BENEFIT 

Non-assurance practitioners or firms. 

Special Notes 

Participants will benefit most from their attendance having available.

• Your last two practice inspection reports.

• Your client list.

• A list of your employees and/or service providers with whom you do business (e.g. for your IT support).

• Any policies or procedures you may have.

• Two monitors are suggested.

REGISTER HERE.