CPA Canada’s new Canadian Standard on Related Services (CSRS) 4200, Compilation Engagements is in effect for periods ending on or after December 14, 2021. CSRS 4200 updates and strengthens the requirements and guidance for accepting, conducting, and reporting on compilation engagements.
The performance of a compilation engagement is included in the “practice of professional accounting,” as set out in subsection 47(1)(c)(i) of the Chartered Professional Accountants Act (CPA Act). Subsection 47(2) of the CPA Act provides that only a CPA member in good standing, a professional accounting corporation, or a registered firm may provide the services referred to in subsection 47(1) of the CPA Act, if authorized by CPABC to do so.
Further, under the CPABC Bylaws, members must have the appropriate public practice licensure to perform a compilation engagement.
If you are aware, or become aware, of anyone other than a CPABC member in good standing, a professional accounting corporation, or a registered firm performing compilation engagements under CSRS 4200 in British Columbia, please notify CPABC at professionalconduct@bccpa.ca.