|
|
|
Peer Review Guide > Summary of Quality Control Standards Amendment to Statement of Quality Control Standards No. 2, "System of Quality Control for a CPA Firm’s Accounting and Auditing Practice" n Overview.. This amendment clarifies the standards to indicate that the presence of "deficiencies in individual audit, attest, review, and compilation engagements do not, in and of themselves, indicate that the firm's system of quality control is insufficient to provide it with reasonable assurance that its personnel comply with applicable professional standards." Such could be the case, for example, when a reviewer or person performing monitoring procedures identifies deficiencies that are either minor in nature or represent isolated occurrences of deficiencies, not indicative of the firm's practice as a whole.Peer Review Guide > Summary of Quality Control Standards © 1998-2003, Duane Reyhl, CPA |