Peer Review Addresses Risk Assessment Deficiencies

Article:  The AICPA Peer Review Team has gathered data on common deficiencies found regarding the Risk Assessment Process and has created a video discussing those findings
Published on February 07, 2013

Peer Review Matters

Article:  Peer review is a critical component of financial reporting quality. The AICPA Peer Review program plays a significant role in ensuring that financial reporting is proper and in ensuring that practitioners...
Published on January 19, 2012

AICPA Peer Review Concerns-Common Risk Assessment Deficiencies

Article:  The AICPA Peer Review Team has gathered data on common deficiencies found regarding the Risk Assessment Process and has created a video discussing those findings.This document is the transcription for easy reference...
Published on February 07, 2013

Income Tax Basis Financial Statements

Article:  ...Some of the common peer review matters identified in compilation engagements relate to the definitions section of the SSARS. For example, there have been several cases where a firm had GAAP basis financial statement titles...
Published on July 14, 2011

Planning and Supervision

Publication:  This excerpt from the the AICPA's 2012 Audit Guide Assessing and Responding to Audit Risk in a Financial Statement Audit contains excerpted guidance on the risk assessment procedures.
Published on May 14, 2012

Communicating Internal Control Matters Identified in an Audit

Publication:  This excerpt from the AICPA's 2012 Audit Guide Assessing and Responding to Audit Risk in a Financial Statement Audit discusses to communicate internal control matters identified in an audit.
Published on May 14, 2012

Analytical Procedures - Audit and Attest

Publication:  The following is a summary of some of the professional requirements related to analytical procedures to assist you in performing your audit engagements.
Published on July 16, 2012

Audit Documentation

Article:  AU-C section 230 discusses Audit Documentation. The AICPA provides highlights with respect to peer review
Published on April 03, 2013

Management Representations

Article:  ...One of the more common peer review matters identified in review engagements relates to the representation letter. Some examples of matters found include: Comparative financial statements were issued but the representation letter
Published on July 26, 2011

Communication With Those Charged With Governance

Article:  ...One of the more common peer review matters identified in audit and attest engagements is related to the auditor's communication with those charged with governance and specifically the a failure to document those communicatio
Published on April 03, 2013

Statement of Cash Flows

Article:  ...One of the more common peer review matters related to accounting is the statement of cash flows. For example, some companies fail to properly identify certain cash flow items as operating, investing, or financing activities. FASB...
Published on July 22, 2011

Understanding the Entity

Article:  ...One of the more common peer review matters in review engagements relates to the engagement letter. Some examples of matters identified include: The required wording that the engagement could not be relied upon to disclose errors...
Published on July 22, 2011

Debt

Article:  ...One of the more common peer review matters related to accounting is debt disclosures. For example, some companies fail to disclose 5 years of debt maturities as required by FASB Accounting Standards Codification (ASC) 470-10...
Published on July 28, 2011

Analytical Procedures - Compilation and Review

Article:  ...One of the more common peer review matters in review engagements relates to the failure to document expectations when performing analytical procedures and to compare results to those expectations. Although many small businesses do not prepar...
Published on October 28, 2011

Form of a Standard Compilation Report

Article:  ...One of the more common peer review matters identified in compilation engagements is related to firms issuing tax basis financial statements and the compilation report was not modified to reflect the GAAP departure. In the course...
Published on July 14, 2011