Training
Accounting and assurance standards – What’s new for 2025-2026
Length: 3 h 30
New training for 2025-2026
Summary
The profession is evolving rapidly, and expectations from practice inspections remain high. Staying current on updates in accounting and assurance standards is essential to secure your engagements and avoid deficiencies identified during quality control reviews.
Over the past year, several important developments have been issued. In accounting, new requirements affect life insurance contracts with cash surrender value, initial application/reliefs, and common pitfalls in business combinations. In assurance, significant changes address going concern (CAS 570 revised) and fraud (CAS 240 under revision).
In addition, the new Québec Code of Ethics (effective May 2024), combined with the CPA Order’s guidelines on the use of social media, introduces new practical obligations for CPAs. This training will help you understand these requirements, adapt your working methods, and avoid common pitfalls that often lead to interventions by the syndic.
Learning objectives:
- Quickly identify recent updates to accounting and assurance standards and their effective dates.
- Apply these requirements concretely in your files (audit programs, audit evidence, documentation, and communications).
- Adapt financial statement presentation and disclosures (ASPE/NPO standards).
- Reduce the risk of recurring deficiencies observed during practice inspections.
Agenda
Accounting
- Section 21 – Life insurance contracts with cash surrender value (policyholder): scope, recognition, “net” presentation, disclosures, effective date.
- Initial application/reliefs (Ch. 1500/1501 – Handbook): practical reminders and transition considerations.
- Business combinations: common pitfalls (purchase price allocation, contingent assets/liabilities).
Assurance
- Going concern: impact of CAS 570 revised (2024).
- Fraud: update on the CAS 240 revision project (exposure draft expected in fall).
- Entities using a service organization (CAS 402): reminders, common pitfalls, and practical resources (CPA Canada FAQ).
Practice inspection and ethics (Québec)
- New Code of Ethics (effective May 9, 2024): obligations and sensitive themes.
- Social media guideline: best practices and risks to avoid.
And also
- Updates to Paradigme Questionnaires and their impact on methodology (audit programs, working papers).
- Exchanges and practical examples with participants.
Results for your firm
-
- Better documented files, easier to supervise and defend in inspections.
- Fewer rework issues thanks to updated models and procedures.
- A team more aware of key risk areas (fraud, going concern, service organizations).
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