The course will explain the requirements of the revised CAS 600 standard and how to apply them in a less complex entity environment when there are few or no component auditors involved in the group audit. Differences between the extant and revised standard will be highlighted. Practical guidance will be provided on interpreting and applying the standard. The material includes various exercises and examples to help facilitate group discussion and exchange of ideas amongst the instructor and participants.  

Applicable for:
This course is intended for public practitioners as well as managers and senior staff members employed in public practice who are conducting group audits. 

Prerequisites - Knowledge, Experience or Courses
Working knowledge of the extant standard is helpful but not required. Understanding of CAS is required. 

Learning Objectives
By the end of this course, participants should be able to:

• Understand the new requirements including scope and applicability of the revised CAS 600 standard 
• Understand the difference between the revised and extant standards. 
• Understand responsibilities of the group engagement partner and group auditor 
• Understand how the group auditor communicates and interacts with component auditors
• Apply the revised standard when there are few or no component auditors (scalability)
• Determine the appropriate level of documentation to address the revised standard 
• Understand how the auditor manages audit quality at the group and component level
• Recognize the importance of professional skepticism and professional judgment in planning and performing a group audit

Content
The topics in this seminar include:

• Scope of CAS 600
• Achieving quality on a group audit 
• Engagement acceptance or continuance, including restrictions on access to information or people 
• Overall group audit strategy and group audit plan 
• Understanding the group and its environment, the applicable financial reporting framework and the group's system of internal controls
• Risk-based approach for planning and performing the group audit 
• Materiality and aggregation risk 
• Responsibilities of group engagement partner and group auditor
• Communicating and interacting with component auditors 
• Using audit evidence from an audit performed for another purpose 
• Documentation 
• Professional skepticism 
• Scalability of the standard
• Canadian amendments to ISA 600 (revised)

Presented by PD Partner: CPA Pro

What to Expect

• Two emails will be sent from CPA Manitoba following your registration: one to confirm your order and one including information on how to access the course through your Learning Hub. 
• Once sent, these emails can also be found in the Communication tab of your CPA Manitoba Member Portal.
• This course is designed for participants to view while following along with the course material provided. 
• This self-study course allows you to save your progress and return to continue at a later date.  
• A certificate of completion can be provided.*  

Access to this course will be available for 180 days after registration. After this time, access to the course will no longer be available.

*To receive a certificate of completion, users must complete all course elements including a short quiz at the end of the course. Unlimited quiz attempts are available until a passing grade of 80% or better is achieved. After you have achieved 80% or better, you will no longer be able to access the quiz. 

CPA Manitoba PD Terms and Conditions