In-Person Seminar

Audit Engagements - Audit of a Simple Entity - In Person Seminar

Nov 25, 2022

CPA Ontario - King, Toronto


NOV 25



8:30 AM - 5:00 PM




7.5 Hours


0 Hours


Registration closed on

Nov 22, 2022


NOTE: This course description has been revised to include updates to the course material for 2022. If you have any questions, please contact

Before registering for this session, please note, it is going to be an in-person session and will be held at the Chartered Professional Accountants of Ontario office at 130 King St. W. in Toronto. You MUST attend in person to participate, there will not be an option to join this session virtually.

Promotion – Free CPA Ontario backpack as a reward for enrolling in one of our Toronto in-person sessions! Act quickly, quantities are limited. You will receive your backpack when you attend the session.

We are no longer asking for vaccine attestation or mandatory masking in our sessions for anything on or after October 1, 2022, but we do ask that you do your best to protect yourself and others. This includes monitoring your symptoms pre-session. If you are experiencing any of the following symptoms, we ask that you contact us at


    • Fever above 38
    • New onset or worsening of existing cough
    • Shortness of breath or difficulty breathing
    • Loss of sense of smell and/or taste
    • Stuffy or runny nose
    • Sore throat
    • Muscle aches
    • Headache
    • Nausea, vomiting, diarrhea
    • Fatigue or exhaustion or loss of appetite

    If you have any of the symptoms listed above, please contact to be withdrawn and credited from the session and invited to attend either a future offering of your course or to choose another course and you will not be charged a withdrawal fee.

An auditor must conduct audit engagements in accordance with Canadian Auditing Standards (CAS), regardless of the complexity, size or nature of the client. However, it can be challenging to understand how to apply certain CASs to a simple entity in an efficient and effective manner. Through the use of case studies, practical examples and interactive discussions, this seminar will provide auditors a better grasp of CAS requirements along with how to apply the standards in a practical way in the audit of a simple, or less complex, client.

Auditing simple entities has been, and continues to be, a challenge for practitioners as they struggle to balance the application of the application of the Canadian Auditing Standards (CAS) while still conducting an efficient and effective audit.  This is a valuable course as it helps practitioners better comprehend the standards and how to apply them which in turn helps them conduct better quality engagements.

This seminar will help auditors to better understand and apply of CAS requirements in the context of a simple entity. The seminar will review the key concepts of CAS and their application taking into consideration unique aspects specifically related to the characteristics of a simple entity. Using case studies and practical examples along with the opportunity to ask questions and participate in interactive discussions, this session will review various alternatives in meeting CAS requirements resulting in more effective and efficient engagements. This course will include changes related to Revised CAS 315 and scalability on less complex estimates along.

This seminar will also provide a high level overview of upcoming Quality Management Standards standards changes including Revised CAS 315,( CSQM 1 and 2 and Revised CAS 220).

Topics Include:

  • Introduction – CAS overview, definition of simple entity, examination of Discussion Paper on LCEs
  • Initial activities – client acceptance and continuance, engagement letters
  • Risk assessment procedures – materiality, understanding the entity, team planning meeting, additional required risk assessment procedures including auditing estimates
  • Risk assessment procedures – understanding the components of internal control, design and implementation of controls
  • Risk assessment procedures – assessing the risk of material misstatement
  • Responding to risk – substantive audit procedures (including analytical review procedures and tests of detail), control testing opportunities, journal entry testing, sampling
  • Concluding and reporting – communications with TCWG, assessing misstatements, audit report

Key Takeaways:

  • Interpret CASs in the context of a simple entity
  • Identify challenges in applying the CASs in the audit of a simple entity and design appropriate audit responses to ensure conduct quality audits
  • Recognize opportunities for efficiencies
  • Select appropriate tools and templates to meet documentation standards
  • Design and perform appropriate audit procedures to address the risk of material misstatement

Who Will Benefit:

Practitioners who audit entities which, based on size and characteristics, are classified as simple, or less complex, in nature.


Discounted Price

$330.00 Personal Passport

$389.00 Organization Passport

$489.00 Member

$489.00 Student

$589.00 Public

Status: Registration closed on Nov 22, 2022


CPA Ontario - King, The Exchange Tower, 130 King Street West, Toronto, Ontario, M5X 1C9


Paul Rhodes, CPA, CA, FCA (ICAEW) - with over 20 years public accounting experience, the last 10 as an audit partner in a large accounting firm, Paul has seen a broad array of engagements with varying complexity and diversity. In addition, he led the firm’s International Financial Reporting Standards (IFRS) group. Paul recently started his own practice providing expert accounting, financial reporting and quality control services to ensure the highest standards are achieved. His passion is that of an innovator with strong intellectual curiosity who looks for new approaches to solving problems. Paul is committed to transferring knowledge in all the work he does and is currently contributing technical writing to John Wiley & Sons, Inc. He holds the CPA CA designation from Chartered Professional Accountants of Ontario and the FCA from the Institute of Chartered Accountants in England and Wales.


Participants should be familiar with the Canadian Auditing Standards. The material does not review all of the standards, but rather focusses on those standards practitioners have identified as challenging to apply in the audit of a simple entities. A strong working knowledge of the standards will help to ensure that the material is not taken out of context.

Before registering for this session, please note, it is going to be an in-person session and will be held at the Chartered Professional Accountants of Ontario office in at 130 King St. W. in Toronto. You MUST attend in person to participate, there will not be an option to join this session virtually.

Electronic material can be accessed one week prior to the course at and should be downloaded in advance.

Registration, cancellation, withdrawal and all other CPA Ontario PD Seminar policies can be found here.