The CPA gets audited: quality control/peer review gains acceptance
Article Abstract:
Peer review, quality control, and increased government regulation are being used to combat allegations of malpractice in the accounting profession. The American Institute of Certified Public Accountants (AICPA) instituted a self-regulation program more than a decade ago aimed at: improving the quality of CPA firms' practice, and establishing effective self-regulation methods. The program requires member firms to undergo peer review and quality control testing triennially. Local and regional CPA firms were surveyed in 1987 to assess their involvement in quality control and peer review programs. The sample included 202 CPA firms. Almost 100% have quality control programs, primarily involving audited, unaudited workpaper, and report reviews. Methods used to perform quality reviews included: in-house reviews (73.1%), AICPA reviews (20.8%), and reviews by other firms (45%).
Publication Name: The Woman CPA
Subject: Women's issues/gender studies
ISSN: 0043-7271
Year: 1989
User Contributions:
Comment about this article or add new information about this topic:
Audit time budgets: a cost-benefit analysis
Article Abstract:
Using a cost-benefit approach, the monetary and psychological savings afforded by carefully planning an audit engagement are weighed against the costs involved in performing such planning activities. The costs involved in planning include: increased job stress, higher turnover for auditors, increased recordkeeping responsibilities, and increased likelihood of errors. The possible benefits to be derived from carefully planning an audit include: better use of available manpower, proper job sequencing, more accurately quoted audit fees, facilitated employee performance reviews, identification of slippage (deviations from plan), and improved estimating for future audits. The benefits tend to outweigh the costs; moreover, since the auditor becomes more adept at planning with each successive audit, the planning costs can be expected to decline over time.
Publication Name: The Woman CPA
Subject: Women's issues/gender studies
ISSN: 0043-7271
Year: 1986
User Contributions:
Comment about this article or add new information about this topic:
The relationship between quality, time and cost
Article Abstract:
Advice on factors to consider when buying goods or services is presented. The opportunity costs of quality, speed and cheapness are considered and ways of assessing one against another are discussed.
Publication Name: Women in Business
Subject: Women's issues/gender studies
ISSN: 0043-7441
Year: 2001
User Contributions:
Comment about this article or add new information about this topic: