Much has changed in the peer review process since the industry’s adoption of the AICPA Enhancing Audit Quality (EAQ) initiative. To sustain your high professional standards within the self-regulated CPA profession, you should expect a high-quality peer review. Choose a peer review firm that conducts multiple peer reviews each year as a focused specialty. Your peer review team should also be knowledgeable about common audit shortcomings, such as the newest requirements for audit documentation standards and how risk assessments align with planned audit procedures.
Ultimately, your peer reviewer should approach this opportunity with an educational mindset. It is not intended to “find fault,” but to help your firm implement proper audit approaches while enhancing areas such as staff training needs or better technology for remote audits and field work.
At Anglin Reichmann Armstrong, we offer these expectations and outcomes for your firm. In addition to our national peer review industry involvement and our focus on new technologies for audit and assurance services, our peer review services include:
Anglin Reichmann Armstrong’s knowledge of non-profits has been incredibly helpful in our audits and operations. Our business is complex and they always provide actionable solutions and guidance that we can apply. Our annual audits go smoothly because they know us and stay up-to-date on our organization. Their technical knowledge is incredible, but their real value is in knowing us, our organization and providing guidance that is specific to our operational objectives and goals for growth.
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– Michael Speigle,
Controller of HudsonAlpha Institute for Biotechnology, client since 2013
