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.
Create a firm environment that focuses on quality control; Understand the basic steps for monitoring and inspections; Establish quality control systems based on the Quality Control Standards; Recognize significant recurring engagement deficiencies and how to prevent them; Prepare for their next peer review; What decisions to make and how to pull together the right information.
Practitioners subject to peer review who are involved in compiling, reviewing, or auditing financial statements of small and midsize businesses.
Experience in providing audit, compilation and review services.