Quality is the cornerstone of the accounting profession. Individuals, companies, and others rely on accountants to conduct the highest quality service to ensure the most accurate reports and financial information. For this reason, the AICPA requires Certified Public Accounting firms offering audit and attestation services to undergo an in-depth peer review every three years. Essentially, this review is designed to ensure the highest quality standards are being followed in all phases of audit delivery. The result of the peer review process is reassurance to the firm’s existing and potential clients that the work produced by the firm meets or exceeds established AICPA standards.
Insurance Industry Peer Reviews
Often CPA firms in the insurance industry are limited in their peer review options because most peer reviewers lack statutory insurance knowledge. JLK Rosenberger can work directly with insurance practices as their peer reviewer or offer qualified peer reviewers the option of teaming up with our insurance experts so they can perform peer reviews of firms with insurance audit clients.
Are you a CPA firm in the insurance industry? Let’s discuss your options.
Our Peer Reviews Services
Our process focuses only on reviewing the essential information and documentation with an eye on meeting established deadlines. If issues or inconsistencies are uncovered, we quickly address it with members of management to seek clarification.
JLK Rosenberger focuses on three primary areas when conducting a review:
- Review of organization-level functions
- Review of randomly selected work papers and accompanying reports
- Assessment of documentation detailing the firm’s compliance with membership requirements.
Required to undergo peer review? Contact our experts.