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Upcoming Peer Review: Is Your Firm Ready?

Author/Moderator: Duane Reyhl, CPA
Publisher: AICPA
Availability: Varies by Format (See Below)
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Description

Available Formats:  Text | On-Demand | See All

What does it take to have an effective quality control system that leads you to a clean, unmodified peer review report? Find out how to prepare for your next review and what can be done on a daily basis to create a strong quality control environment for your firm. Identify the most common, significant deficiencies that peer reviews uncover and what you can do to prevent them from occurring in your firm. Consider the process for selecting the appropriate peer reviewer and determine the right review year-end for your firm. If you have specialized engagements, such as governmental units, not-for-profit organizations, construction contractors or employee benefit plans, this course examines the additional issues that may come into play.

Topics Discussed:

  • What to do between reviews to maintain a quality control environment and continually prepare for the next review
  • Common engagement deficiencies and how to prevent them
  • Selection process—the peer reviewer and the review year end
  • Quality control standards overview
  • What you need to assemble for your reviewer
  • Peer review wrap-up expectations
  • Solutions to common quality control issues

Learning Objectives:
When you complete this course, you will be able to:

  • Create a firm environment that focuses on quality control.
  • Understand the basic steps for monitoring and inspections.
  • Establish quality control system based on the Quality Control Standards.
  • Recognize significant recurring engagement deficiencies and how to prevent them.
  • Prepare for your next peer review – decisions to make and pulling together the right information.
Prerequisite: Experience in providing audit, compilation, and review services.

Advanced Preparation: None

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NASBA Field of Study: Auditing
Level: Intermediate
Recommended CPE Credit: Text - 11; On-Demand - 10.5
Upcoming Peer Review: Is Your Firm Ready?
Text , 2014
Product# 731966
Availability: In Stock
Regular:$206.25
AICPA Member:$165.00
Your Price:$206.25
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