Implement the 4200 Compilation standards

CaseWare RCT is compliant with the 2020 PEG content updates which include the CSRS 4200 standards.

The new standards for compilation engagements are effective for periods ending on or after December 14, 2021 - however, firms can apply them earlier.

The following excerpt from CPA Canada's 2020 PEG updates shows the forms that have been developed to meet the new standard.

Here is the list of documents that have been added in CaseWare RCT following the new CSRS 4200 standard.

Name Type Purpose
1.1 Engagement acceptance/continuance Checklist To use as the engagement acceptance / continuance checklist for compilation engagements following the CSRS 4200 standard
2.10 Knowledge of the entity Checklist To document knowledge of the entity in accordance with CSRS 4200
2.90 Worksheet - Time budget Worksheet To document the time budget for the engagement
3.10 Completion checklist Checklist To ensure that the requirements of CSRS 4200 have been met prior to issuing the engagement report
3.90 Worksheet - Withdrawal Checklist To provide the documentation requirement when it is considered necessary to withdraw from the engagement
3.95 Report Transmittal Checklist To document the process for approving and issuing the engagement report
1.10 Compilation engagement letter Letter To use as the engagement letter for performing compilation
1.20 Compilation engagement - Management acknowledgment of responsibilities Letter To use as the management acknowledgment letter as required by CSRS 4200 when the engagement letter is signed by those charged with governance
Compilation engagement report Report To be used as the compilation engagement report following CSRS 4200. Note that the compilation engagement report in RCT is included in 6-20 Financial statements document

To learn more, download CPA Canada's 2020 PEG updates. Note that you need to be a PEG subscriber through CPA Canada.

To implement the 4200 standards, respond Yes in the Planning Optimiser question Would you like to include the new 4200 CSRS standards?

Note that:

  • If you don't want to apply the new standards, respond No to have the 9200 standards applied instead

  • You can view or download the CPA Compilation Map PDF

CSRS 4200 optimiser question.

Once you select Yes, the CSRS 4200 forms become available in the engagement.

For more details on the implementation of the 4200 standards, download the PDF. Note that you need to be a PEG subscriber through CPA Canada.