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.
Course ID: SNPR
Upcoming Peer Review: Is Your Firm Ready?
- Identify key planning steps in a system or engagement review.
- Identify key points related to selecting your peer reviewer.
- Identify some specific items your peer reviewer will be asking you to provide.
- Identify specific elements of QC section 10, A Firm’s System of Quality Control, and common matters and findings related to the elements.
- Identify the elements of a letter of response or other firm responses.
- 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
DESIGNED FORPractitioners subject to peer review who are involved in performing accounting and auditing services for small and midsize businesses
FIELD OF STUDY