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News from the Canada Revenue Agency UPDATED July 4, 2019
Public Practice - Key Dates for 2018/19
Major Changes to Quality Management Proposed
The Auditing and Assurance Standards Board is proposing significant changes to the foundational quality control standards at the firm and engagement level. The Board issued in April 2019 the Quality Management at the Firm and Engagement Level, Including Engagement Quality Reviews exposure draft for comment.

To learn more about how these proposed standards might affect your current practice, you can read this Audit and Assurance Alert: Quality management, and watch the archived Explore the AASB’s Exposure Draft on Quality Management webinar.
Creating a New Strategic Direction for the CPA Profession
Members have likely heard about the Foresight project from CPA Canada – a multi-stakeholder project exploring ways for the CPA profession to face the challenges of the future.

Phase 1, a six-month consultation process that included in-person roundtables and a digital conversation with over 1,200 members and stakeholders, is now complete. We invite you to read the findings and learn about a new strategic direction for the CPA profession in The Way Forward.
Updates About CRA Policies
Do you follow the CPA Canada Tax Blog? In case you missed them, there’ve been recent postingsabout Payments for Services: CRA Policy Unchanged for Now and CRA Requests for Personal Banking Info: Out of Line?

In addition, if you have been following the case between Cameco and CRA, there’s now a statement from the Canada Revenue Agency regarding the decision in Canada (National Revenue) v. Cameco Corporation (2019 FCA 67) available on Canada.ca.

Public Practice News & Views Knowledge Base