Gain a better understanding of the AICPA peer review program and how to prepare your firm for peer review.
A peer review report with a rating of ‘pass’ is a great asset to a firm - quality should be of the utmost importance. This webinar is intended to provide attendees with a better understanding of the AICPA peer review program and how to prepare the firm for peer review. We will discuss peer review standards and how they apply to firms providing attestation and other engagements. We will walk through the peer review process, discuss what documentation the firm needs to have available, and what questions the peer reviewers might have. We will share examples of common findings from peer review, discuss what things might rise to the level of a deficiency, and go over potential corrective actions and remediation. Finally, we will share some resources to consult with as you move forward.
Learning Objectives
- You will be able to describe how a peer reviewer might select engagements for review.
- You will be able to discuss ways to prepare for your peer review.
- You will be able to explain the peer review process.
- You will be able to identify the different types of peer review findings and common
Agenda
Peer Review Standards Overview
- When a Peer Review Is Required
- What Is a Peer Review and Types
- Peer Review and Quality Control Standards
What to Expect During a Peer Review
- Must-Select Industries
- Process and Timeline
- Closing and Exit Conferences
Understanding Peer Review Results
- Types of Reports
- Types of Findings
- Common Deficiencies
- Corrective Actions and Implementation Plans
Preparing for Your Next Peer Review
- Adequate and Implemented Methodologies/Practice Aids
- Adequate and Implemented Quality Control Policies and Procedures
- Brief Discussion of Implementing New SQMS and AICPA Resources
Resources and Tools
- Finding a Peer Reviewer
- Checklists to Use for Monitoring
Speakers
LeAnne Goode, CPA, MBA
Anglin Reichmann Armstrong, P.C.
Meg Hampton, CPA, MAcc
Anglin Reichmann Armstrong, P.C.
Who Should Attend
This live webinar is designed for accountants, presidents, vice presidents, controllers, business owners and managers, finance executives, brokers, tax managers, and financial planners.
