PEG - Content Updates (Review)
The PEG Review and Compilation template has been updated to include the latest features from Audit 22.00 as well integration with the Queries (PBC Requests) app.
The updated PEG Review and Compilation template is compliant with CPA Canada's 2020 PEG content updates which includes the new compilation standard CSRS 4200. In addition the PEG template contains the following content updates:
New forms
Form Numbers | Description |
---|---|
COMP MAP. | Provided a listing of key procedures and related forms to be performed throughout the three-step engagement process. |
C1-10 | Checklist for engagement acceptance/continuance for compilation engagement under CSRS 4200. |
C2-10 | Form to document the knowledge of the entity in accordance with CSRS 4200. |
C3-10 | Checklist to ensure the requirements of CSRS 4200 have been met prior to issuing the engagement report. |
C3-90 | This worksheet provides the documentation requirements when it is considered necessary to withdraw from the engagement. |
Forms with moderate revisions
Form Numbers | Description |
---|---|
PEG Overview, MAP, COMP MAP. | Updated PEG overview, PEG review and PEG Compilation Section 9200 MAP to reflect most update the information for PEG template. |
2-90 | Updated worksheet to document the time budget for review and compilation engagement. |
6-10 | Updated the document guidance to document the process for approving and issue the engagement report for review and compilation engagement. |
FRF 906 |
To reflect the changes to the ASPE standards relating to Section 3856, Financial Instruments, for significant risk disclosures, retractable for mandatory redeemable shares issued in a tax planning arrangement and related - party transactions. To reflect minor changes in Section 3475 relating to the presentation of future taxes. Further, update the numbering bullets issue for certain procedures inside the form. |
FRF 908 | To reflect minor changes in Section 3475 relating to the presentation of future taxes. |
FRF 971 | Removed the 681 NFP information which is not relevant in PEG Review. |
FRF 972 | To reflect the changes to the ASNPO standards relating to Section 3856, Financial Instruments. |
1-10, 1-20, 1-90, 2-05-2, 2-05-2 NFP, 2-10, 3-10, 3-97, 3-B, 3-D, 3-N, 3-U, 3-W, 3-UU-1, 3-UU-2, 4-10-1, 5-10 | Modified numbered bullets to normal bullets to minimize issues with numbering during update. |
3-94, ASPE_README, FRF905, R2-20, 3-95 | Replaced the documents based on updated CPA Canada content. |
New reports
Form Numbers | Description |
---|---|
CE1.1 | Sample compilation engagement report when reporting under CSRS 4200. |
New letters
Form Numbers | Description |
---|---|
CL1.1-1 | Engagement letter for performing compilation and issuing under CSRS 4200. |
C350 | Management acknowledgment letter as required by CSRS 4200 when the engagement letter is signed by those charged with governance. |
OL 3.1, OL 3.2, OL 3.3 | Included Requests to release confidential client information letter and two Lawyer instructions in the review template. |
Letters with moderate revisions
Form Numbers | Description |
---|---|
RL2.2 | Updated the content related in the estimate section. |
CL1.1, RL1.1A | Modified numbered bullets to normal bullets to minimize issues with numbering during update. |
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