The Accountant's Guide to Peer and Quality Review

by R. K. McCabe

Overview

Inferior quality service threatens the accounting profession's existence. To reduce instances of substandard service, the profession requires firms to have a system of quality control, to annually inspect that system, and to undergo a comprehensive triennial external review. This book shows firms how to develop a quality control system, prepare for the review, and earn an unqualified report. In addition, it tackles the problem of substandard service head-on.

The author examines the roots of review, substandard service, and discusses the undiscussable. Next he reviews the pluses and minuses of the practice-monitoring programs and the importance of selecting the firm's reviewer. Quality control's nine functional areas are explained in depth and the ten steps to a successful review are also described in detail. He describes what happens on a review and offers practical advice about the problems to avoid. The concluding chapter offers over twenty recommendations that would returban the accounting business back to the accounting profession. This book is for every firm, every practicing CPA, and the profession's leaders as well as those interested in improving the integrity of the financial reporting system. It also is important for students planning to enter public accounting.

Product Details

ISBN-13:	9780899306858
Publisher:	Bloomsbury Academic
Publication date:	07/28/1993
Pages:	248
Product dimensions:	6.14(w) x 9.21(h) x 0.62(d)

About the Author

R. K. McCABE is Professor of Accounting at California State University, Fullerton. He has spent much of his career in public accounting and and has served as a peer reviewer for the AICPA, a state society, and on a state society quality review board. He is a widely published author of articles in such jourbanals as the Jourbanal of Accountancy and The CPA Jourbanal.

Table of Contents

The Road to Peer Review
The Choices
Division (Peer) or Quality Review
The Importance of Selecting the Right Reviewer and How to Do It
Understanding + A Quality Control Document + The Proper Tone at the Top = Professional Quality Service
The Keys to a Successful Review: Preparation and Planning
The Review: What Happens and What to Do Afterward
Survival
Problems to Avoid
Summary, Conclusions and Recommendations
Glossary
Index