The new Canadian Standard on Related Services (CSRS) 4200, Compilation Engagements was issued into the CPA Canada Handbook in February 2020. CSRS 4200 is effective for compiled financial information for periods ending on or after December 14, 2021. Earlier application is permitted but not required.
CPA Canada has published several new resources on its dedicated New Compilation Standard: Guidance Resources page. They include:
- Practitioner Alert for practitioners to learn about the new standard and its effects on practice;
- Management Briefing to facilitate discussions between management and practitioners; and
- Third Party Briefing to support discussions between management, third parties, and practitioners.
New Compilation Standard: Guidance Resources