FocusROI Header


C•PEM News

Did you know:

1. The annual Independence letter will no longer be required for, non-listed entity, audit and review engagements. However there is still a requirement to report on any matters that would impact the Firms independence.

2. In the transition period to ASPE, there are two choices for the auditor to take in respect of comparative information.
a. Choice 1 – report on all periods presented. This requires full comparative financial statements to be presented in accordance with ASPE.
b. Choice 2 – report only on the current year. This requires an extra paragraph in the auditor's report to explain that the comparatives are unaudited (as they were not originally prepared in accordance with ASPE.

Practical guidance
to assist practitioners with the
implementation of
professional standards


Where to buy C•PEM C•PEM Home page on Knotia
Scope of C•PEM Audits using the CASs
Other assurance engagements
Review Engagements
Compilation engagements
What is C•PEM all about An overview of C•PEM
Last C•PEM update July 2010
Target for next C•PEM update July 2011
Interim guidance and updates Focus of C•PEM web site


The C•PEM contains two volumes
plus a CD which are updated each
summer for changes in standards
and professional practice.


Volume 1 — Core Concepts
These chapters address key concepts used in the CASs such as materiality, internal control, risk assessment procedures and the type, nature and extent of audit and review procedures.

Volume 2 — Practical guidance
Presented in four parts:

Part A - practical step-by-step approach to completing an audit engagement from client acceptance, planning and risk assessment through to risk response, evaluating audit evidence and forming an audit opinion. Each chapter contains illustrative audit documentation based on two case studies, a very small entity and a slightly larger one.

Parts B provides comprehensive guidance on performing review engagements.

Part C provides comprehensive guidance on performing compilation engagements

Part D includes print-ready PDFs of the C•PEM sample forms, worksheets and sample engagement letters. These forms, worksheets and sample engagement letters are also available in Word and Excel templates for tailoring these practice aids to address the circumstances of each engagement. For more information about the C•PEM CICA Electronic Templates, go to C•PEM has a number of forms that can be tailored for use in various circumstances.

ISA Forms

FocusROI Inc. has developed the ISA Engagement Forms, a comprehensive practice assistance tools designed to assist practitioners with the implementation of International Standards in the audit of small- and medium-sized enterprises. These forms will assist you in meeting the needs of individual engagements according to IFAC's international auditing standards, and provides you with the added functionality of completing them electronically.

The ISA Engagement Forms include either a Word or Excel template of each of the checklists, forms and sample letters included in the collection. These time-saving practice aids allow you to customize the forms and letters to meet the needs of individual engagements. As a current subscriber to the ISA Engagement Forms, you will automatically receive updates as they are published.

For additional information or to purchase the ISA Engagement forms, visit the CA Store