100 | In Person Training | Intermediate | Cancelled
Upcoming Peer Review: Is Your Firm Ready?
Thursday, May 16, 2019 8:30am - 4:00pm
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. Consider the process for selecting the appropriate peer reviewer and determine the right review year-end for your firm. If you have specialized engagements, such as governmental units, nonprofit organizations, construction contractors or employee benefit plans, this course examines the additional issues that may come into play.
- Identify key planning steps in a system or engagement review.
- Identify key points related to selecting your peer reviewer.
- Identify some specific items your peer reviewer will be asking you to provide.
- Identify specific elements of QC section 10, A Firm's System of Quality Control and common matters and findings related to the elements.
- Identify the elements of a letter of response or other firm responses.
- Thomas Newell (view bio)
Practitioners subject to peer review who are involved in performing accounting and auditing services for small and mid-size businesses
- What to do between reviews to maintain a quality control environment and continually prepare for the next review
- 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
Thomas (Tom) E. Newell, Jr., CPA, is a shareholder in the firm of Newell & Newell, P.C. located in Columbus, Ga. He graduated cum laude from Georgia Southwestern College in Americus, GA in 1980. Newell started his firm with his wife Silvia Newell, CPA, in 1986; prior to that, his public accounting experience included both local firms and international firms. He is an active peer reviewer having performed over 200 reviews and has been involved with the peer review program since 1989.