What does it take to have a properly designed and effective quality control system that leads your CPA firm to receive a pass with no findings on your next AICPA peer review report or PCAOB Inspection? Find out how to prepare yourself for your next peer review or PCAOB inspection and what you can do to create a strong quality control environment for your attest practice. Offering practical guidance, this course will assist you in properly conducting an internal inspection of your attest practice during the off years before your AICPA peer review or PCAOB inspection.
Course ID: HPEIIYAP
How to Perform an Effective Internal Inspection of Your Attest Practice
Learning Objectives
- Identify practical and insightful perspectives on how a CPA firm can properly conduct an internal inspection in accordance with Professional Standards
- Determine best practices on how to create a firm environment that focuses on quality
- Distinguish the basic steps for self-monitoring and performing internal inspections
- Determine the key considerations related to establishing an effective quality control system based on the AICPA Statements on Quality Control Standards
- Choose how to address significant recurring quality control and engagement deficiencies and how to address and prevent them
- Analyze how to prepare attest practice personnel for the next AICPA Peer Review, including decision-making and how to gather and maintain the correction information
Major Topics
- A properly designed and effective qualtiy control system
- Creating a strong quality control environment for your attest practice
- Properly conducting an internal inspection of your attest practice during off years
- Prevention of quality control and engagment deficiencies
- Preparing your attest practice personnel
Who Should Attend
CPA firm practitioners who are subject to the AICPA and/or PCAOB oversight who perform compilation, review, and/or auditing of financial statements of small and midsize private and publicly-traded entities
Fields of Study
AuditingPrerequisites
Experience in either leading a CPA firm’s accounting and auditing practice or practitioners who have previously conducted monitoring procedures