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Services
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Compliance with Policies and Procedures– Local Firm
(performing inspections)
Policy Statement:
The CPA firm will consider and evaluate, on a regular basis,
compliance with its policies and procedures.
Implementation:
The CPA firm will carry out this policy by:
- Assigning an officer to be responsible
for performing an annual inspection using guidance prepared by the AICPA
for performing inspection procedures. These procedures include:
- Significant specialized industries with
emphasis given to high-risk engagements
- Engagements for employee benefits
- First-year engagements
- Level of service performed (that is,
audit, review, compilation, and attest)
- All officers and other management level
personnel having accounting and auditing responsibilities
- The CPA firm will review communications
by letters about consultation on independence, integrity, and
objectivity matters, and acceptance and continuance decisions.
- The CPA firm will review circulars on
resolution of matters reported by professional personnel on independence
to determine that matters have been appropriately considered and
resolved.
- The CPA firm will summarize findings
resulting from the inspection procedures.
- The CPA firm will prepare a summary
inspection report for the officer or management group that evaluates the
overall results of the inspection and that sets forth any recommended
changes to the CPA firm’s policies and procedures.
Issuing inspection findings and
agreed-upon quality control changes to all professional employees.
©/2003 to 2009 A Andrew Harrison CPA P.C. love a challenge
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