Practice Review Committee
The Practice Review Committee is responsible for
- Making decisions in respect to practice reviews, in accordance with the Chartered Professional Accountants Act (SA 2014, c C-10.2), Rules of Professional Conduct, Regulations, Bylaws, Directives, and;
- Approving procedures, maintaining communications with registrants and advising the CPA Alberta Board on relevant strategy and policy matters.
The Committee currently consists of 11 CPAs and one Public Representative and is representative of the sizes and locations of firms in Alberta. Committee members collectively possess the experience and technical knowledge needed to address the broad range of circumstances that come before it. This includes current knowledge of the standards in the CPA Canada Handbook, CPA Canada Public Sector Accounting Handbook, and CPA Alberta Directives in the areas of accounting, assurance, compilations and tax services.
Practice Reviewers
All CPA Alberta Practice Reviewers are duly registered Chartered Professional Accountants in Alberta, are members in good standing, and have the necessary qualifications, competencies and experience to perform practice reviews.
Qualifications
New CPA Alberta Practice Reviewers
A new practice reviewer that will be reviewing assurance engagements shall have a minimum experience of
a. five years of recent relevant professional accounting;
b. over any three of the immediately preceding five years, have accumulated the number of hours noted herein, either directly or by persons under the applicant’s supervision:
i. a total of 750 audit engagement hours of experience, with audit engagement being as defined in the Act
ii. a total of 1,500 review engagement hours of experience, with review engagement being as defined in the Act;
c. or equivalent professional experience to provisions 9.2a and 9.2b above, as determined and evaluated by the Committee.
A new practice reviewer that will be reviewing non-assurance engagements shall have a minimum experience of:
a. five years of recent relevant professional accounting;
b. over any three of the immediately preceding five years, have accumulated the number of hours noted herein, either directly or by persons under the applicant’s supervision:
i. a total of 425 compilation engagement hours of experience, with compilation engagement being as defined by the Act
ii. hours spent on audit or review engagements of historical financial information as defined in the Act may be accepted in place of hours spent on compilation engagements;
c. or equivalent professional experience to provisions 9.3a and 9.3b above, as determined and evaluated by the Committee.
Continuing CPA Alberta Practice Reviewers
All continuing CPA Alberta Practice Reviewers are required to have gained the following experience over the last fiscal year:
- 112.5 hours of practice review experience or equivalent professional experience as determined and evaluated by the Practice Review Committee
If interested in becoming a reviewer or committee member, please email your bio to practicereview@cpaalberta.ca.