- Assurance services  F/S audit, Reviews, review of controls at service org,, assessing I/C’s, compliance audit; special reporting engagements
- Types of core questions (level A and B): o Acceptance decision & audit planning o Which financial reporting framework to apply o Review a prepared audit file (strengths/weaknesses) o Procedures to check if partnership promises upheld o Discuss conflict/independence issues involved o Due diligence procedures for takeover target o Draft a preliminary management letter o Audit report issuance matters o Key risks(significant risks) and business issues o Set extent of assurance work o Design procedures based on scope/risk/materiality (& explain purpose of procedures) o Execute the work plan o Discuss engagement options o Document results of procedures o Evaluate evidence & Draw conclusions o Prepare info for stakeholder meetings o Evaluate I/C
- Types of side questions (level C): o Pending changes in standards o Evaluate IT portion of I/C o Audits of: offering documents, forecasts/projections in a prospectus, f/s affected by environmental matters (incl. environmental audits) o VFM audits; solvency matters; reports on summarized/comparative F/S; reports on consistent application of GAAP (continuous auditing) o Audit procedures on segment disclosures in F/S o Emerging services; operational audits; forensic engagements
- Not tested o Reports on: pension fund f/s; regulated FI’s; insurance companies; trust/savings companies
Canadian Standards on Quality Control (CSQC 1)
Canadian Auditing Standards (CAS 200 –CAS 810)
Other Canadian Standards
General Assurance andAuditing (S. 5020 –S. 5970)
Specialized Areas (S.7050 –S. 7600)
ReviewEngagements (S. 8100 –S. 8600)
Related Services (S. 9100 –S. 9200)
Public Sector (PS 5000 –PS 6420)
Assurance and Related Services Guidelines (AuG-4–AuG-47)

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