Upcoming Peer Review: Is Your Firm Ready?
Thursday, August 15, 2019 – Thursday, April 30, 2020
What does it take to have a clean, unmodified peer review report? Find out how to prepare for your next review and what can be done daily to create a strong quality control environment for your firm. Offering practical guidance, this self-study course allows you to consider the process for selecting the appropriate peer reviewer and determining the right review year-end for your firm. You will examine additional issues that may come into play if you have specialized engagements, such as:
Construction contractors; and,
Employee benefit plans.
Also covered are recent changes to the peer review standards, interpretations, and related guidance intended to enhance the peer review process by incorporating best practices of effective peer reviewers. This course summarizes these changes to help firms prepare for an upcoming peer review. Also reinforced is the need for adequate planning and preparation for a peer review, on the part of both firms and peer reviewers, to allow time for proper identification of systemic causes and appropriate remediation, when necessary.
? Understand the basic steps for monitoring and inspections
? Establish a 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 - decisions to make and pulling together the right information
? 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