Upcoming Peer Review: Is Your Firm Ready? (111123A-12)
Description
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. You will consider
the process for selecting the appropriate peer reviewer and 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, you will learn additional issues
that come into play.
Learning Objectives
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 D decisions to make and pulling together the right
information
Major Topics
What to do between reviews to maintain a quality control environment
and continually prepare for the next review
Common engagement
deficiencies to be aware of and how to prevent
Selection process D the
peer reviewer and the review year end
Overview of the Quality Control
Standards
What you need to assemble for your reviewer
Peer review
wrap-up expectations
Solutions to common quality control issues
Course Level
Intermediate
CPE Field of Study
Auditing
8
Prerequisites
Experience in providing audit, compilation and review services