Gain an understanding of the peer review process and learn what you can do to prepare for your next peer review. We will compare the process for undergoing a System Review with that of an Engagement Review and address recent peer review guidance impacting both. You will learn about the required elements of quality control and the impact they have on reviewed firms. Also, find out about the most common areas of noncompliance with professional standards uncovered by peer reviewers and how you can avoid them.
*Identify steps in the peer review process *Identify ways to prepare for your peer review *Identify ways to get value from your peer review *Determine common areas of noncompliance with professional standards
Peer review process and timeline
*Quality control standards overview *Enhancing Audit Quality initiatives *Common issues identified in peer review and how to prevent them *Best practices to prepare for your firm’s peer review *Resources and tools
Firms subject to peer review
A fundamental knowledge of performing A&A engagements and peer review