PEG - Content Updates (Review and Compilation)

The PEG Review and Compilation template has been updated to include the latest features from Audit 28.00.

The updated PEG Review and Compilation template includes updates to the FRF forms. The template also includes all updated content based on CPA Canada PEG Review and Compilation Practice Aids up to and including the August 2026 updates.

Known issues

  • INDEX - Presentation and disclosure requirements index may show that there are some FRF 900 forms in progress (when they have not been started) after updating to the latest version. To resolve this issue, open, save and close each of the related FRF 900 forms.

  • FRF 915 may appear blank when opened for the first time. To resolve this issue, open the INDEX form, then on the template menu bar, click Generate to regenerate the INDEX form. Verify that FRF 915 is listed prior to reopening it.

Form updates

The following describes the content updates to the forms, with an explanation of why changes were made.

Review

Forms with major/moderate revisions

Form Numbers Description

FRF 906

New prospective presentation option and related disclosure requirement for combinations involving a business under common control (paragraphs 3840.44(b) and 51(h)). Effective for periods beginning on or after January 1, 2026.

FRF 913

New presentation and disclosure requirements applicable to life insurance contracts with cash surrender value (AcG-21). Effective for periods beginning on or after January 1, 2026.

Forms with minor revisions

Form Numbers Description

2-20-1

Updated document guidance to clarify what should be updated in Form 2-20-2.

FRF 900

Additional details clarifying which Sections of the CPA Canada Handbook – Accounting are addressed by the FRFs.

FRF 906, FRF 907, FRF 913, FRF 914, FRF 915 (Previously 916), FRF 971, FRF 972

Minor updates to improve usability, flow of information and clarity.

Renumbered FRF 916 to FRF 915 to be consistent with CPA Canada numbering.

FRF 909, FRF 973

Minor update to renumber Form FRF 916 to FRF 915.

INDEX

Updated the CPA Canada Handbook references to match this year's changes.

RL1.1

Added a "Combined" option to the Document menu, which inserts "combined" where applicable in the letter body.

RR1-1, RR1-3, RR1-5

Added a "Combined" option to the Document menu, which inserts "combined" where applicable in the report body.

RL2.1

Added a "Combined" and "non-consolidated" option to the Document menu, which inserts "combined" or "non-consolidated" where applicable in the letter body.

RL1.4

Added a "Combined" and "non-consolidated" option to the Document menu, which inserts "combined" or "non-consolidated" where applicable in the letter body.