Types of Engagements for Qualifying Assurance Hours

For an audit licence, you must obtain at least 625 chargeable hours in the audit of historical financial statements.
For a review licence, you must obtain at least 625 chargeable hours in the audit or review of historical financial statements.
The following engagements may qualify for the balance of assurance hours to make up the total minimum 1,250 assurance hours requirement if the requirement is not met through the audit or review of historical financial statements (all references are from areas of the CPA Canada Handbook):
- CAS 805 - Audits of single financial statements and specific elements, accounts or items of a financial statement.
- 8500 - Reviews of financial information other than financial statements (replaced by CSRE 2400 after Dec. 24, 2017).
- AuG-6 - Examination of a financial forecast or projection included in a prospectus or other public offering document.
The following engagements would not qualify towards the 1,250 chargeable hours in assurance (all references are from areas of the CPA Canada Handbook):
- Section 9100 - Reports on the results of applying specified auditing procedures. This would include Law Society, Real Estate Council and Other Specified Procedures Reports.
- Section 9200 - Compilation engagements.
- AuG-16 - Compilation of a Financial Forecast or Projection.
- 7600 - Reports on the application of accounting principles.
- 7200 - Auditor assistance to underwriters and others.
- 9110 - Agreed-upon procedures regarding internal control over financial reporting.
- 5815 - Audit reports on compliance with agreements, statutes and regulations.
- 5025 - Standards for assurance engagements other than audits of financial statements and other historical financial information (replaced by CSAE 3000 and 3001 for attestation engagements where the assurance report is dated on or after June 30, 2017)
- CSAE 3000 - Attestation engagements other than audits or reviews of historical financial information (post-June 30, 2017).
- CSAE 3001 - Direct engagements (post-June 30, 2017).
- CSAE 3410 - Assurance engagements on greenhouse gas statements.
- CSAE 3416 - Reporting on controls at a service organization.
- 8600 - Reviews of compliance with agreements and regulations.
- PS 5300 - Auditing for compliance with legislative and related authorities in the public sector.
- PS 5400, 6410 & 6420 - Value-for-money auditing in the public sector.