Thinking Like a Quality Control Reviewer

Overview

Have you ever wanted to reduce the number of financial statement review points you receive? Have you ever been curious about a reviewer’s thought process? This session will help you understand the role of an engagement quality control reviewer. You will leave this session understanding the role of an engagement quality control reviewer, and an appreciation of best practices to minimize your exposure to critique when your work is subject to review. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics covered in this class include:

• AICPA professional standards
• EQCR expectations
• Firm-specific considerations
• Best practices for mitigating the frequency of review points
• Best practices for mitigating the severity of review points
• Examples of common EQCR deficiencies

Prerequisites

Basic working knowledge of financial statement preparation and professional engagement documentation.

Designed For

Anyone whose work is subject to supervisory or quality control review. Particular emphasis will be devoted to EQCR of financial statement engagements in the context of public accounting.

Objectives

After attending this presentation you will be able to...

• Comprehend the AICPA's guidance regarding engagement quality control reviews (EQCRs)
• Appreciate the major considerations that may be involved in an engagement review
• Develop a working knowledge that allows you to begin to think like a reviewer

Preparation

None