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Upcoming Peer Review: Is Your Firm Ready?

Author/Moderator: Jim Woy, CPA
Publisher: AICPA
Availability: Varies by Format (See Below)
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What does it take to have an effective quality control system that leads you to a clean, unmodified peer review report?

With this CPE course, 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.

Key Topics:

  • 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:
This course will prepare you to:

  • Recall how to create a firm environment that focuses on quality control
  • Recognize the basic steps for monitoring and inspections
  • Recall key considerations related to establishing a quality control system based on the Quality Control Standards
  • Recognize significant recurring engagement deficiencies and how to prevent them
  • Identify how to prepare for your next peer review – decisions to make and pulling together the right information

Who Will Benefit?
Practitioners subject to peer review who are involved in compiling, reviewing, or auditing financial statements of small and midsize businesses.

Prerequisite: Experience in providing audit, review, and compilation services.

Advance Preparation: None

NASBA Field of Study: Auditing
Level: Intermediate
Recommended CPE Credit: Text - 9; On-Demand - 7.5
Upcoming Peer Review: Is Your Firm Ready?
Text , 2016
Product# 731968
Availability: In Stock
AICPA Member:$149.00
Your Price:$189.00
Upcoming Peer Review: Is Your Firm Ready?
CPE On-Demand 2016
Product# 163432
Availability: Online Access 1 Year
For registered users only
AICPA Member:$109.00
Your Price:$139.00
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