Upcoming Peer Review: Is Your Firm Ready? (111123A)
REGISTRATION STATUS:
Online registrations are closed for this event. We can take your registration over the phone at 800-782-2036.
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.
Objectives:
Upon completion of this course, participants 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 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
Who Should Attend:
* 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, compilation and review services
Advanced preparation:
None
