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Services
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Performance, Documentation and Review
Policy Statement:
The engagement will be performed, supervised, reviewed, documented,
and communicated in accordance with the requirements of professional
standards, regulatory authorities, and the CPA firm.
Implementation:
The CPA firm will carry out this policy through the following
procedures:
- Giving employees of the firm the “rule
and guidance” book or on line practice aids, which
- Directs the form and content of
engagement documentation, including the CPA firm-in house or bought
forms, checklists, flow charts, questionnaires that are to be used in
the carrying out the engagements, or communication by letters, and the
extent to which their work is reviewed and documented.
- State exactly the nature and extent of
engagement review; at all professional levels, so the financial
statements meet professional and the CPA firm presentation and
disclosure standards.
- State exactly the extent of review
communications to be made to management
- Giving supervision during the engagement
based on the ability, and experience of the personnel
- Designating the duty for the review of all
reports, financial statements, and engagement documentation to a
reviewer senior to the producer to obtain reasonable assurance that:
- The nature, timing, and extent of steps
performed are consistent with risk assessments made and the approach
stated in the planning documentation and that exceptions are
investigated.
- CPA Firm-in house forms, checklists,
and questionnaires, adjusted to the engagement
- Demanding a second review of the report,
financial statements, and selected engagement documentation, by a
manager as stated in the CPA firm’s “rule and guidance” book”.
- Sticking to guidelines set up by the CPA
firm on the review of engagement documentation, financial statements,
and for documentation of the review process:
- All reviewers are to have experience,
competence and responsibility.
- All work performed and the reports and
financial statements issued are to be complete and comply with
professional standards and CPA firm policy.
- Applicable documentation is required on
all engagements evidencing review of engagement documentation,
financial statements, and reports. Includes completion review and
approval documentation.
- Demanding that all differences of’
professional judgment within an engagement team be resolved by the
engagement and quality control officer. The resolution must be
appropriately documented. Members that continue to disagree with the
resolution, he or she may take himself or herself from the resolution
process and to document that a disagreement still exists.
©/2003 to 2009 A Andrew Harrison CPA P.C. love a challenge
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