Overview: Personnel Management System LOC Findings

Peer Review Guide

System Reviews
Reports:
- Report templates

LOC Findings:
- Independence
- Acceptance / Continuance
- Personnel Management
- Engagement Performance
- Monitoring

Engagement Review
Reports:
- Report templates

LOC Findings:
- Modifying
- Non-Modifying

LOR Samples
- System reviews
- Engagement reviews

Updated 2/13/2005

System LOC: Personnel Management

Quality Control Requirements
Index to Findings: Sample symptoms and systemic causes with links to sample wording

Quality Control Requirements:

The firm's policies and procedures should provide that firm with reasonable assurance that:

Personnel hired have attributes that allow them to perform competently.
Work is assigned to those with the right amount of technical skill and training needed for the assignment.
Personnel participate in general and industry-specific continuing education and participate in professional development activities that enable them to fulfill their assigned responsibilities and the requirements of the AICPA and regulatory agencies.
Personnel selected for advancement possess the necessary qualifications needed to assume advanced responsibility if called upon to do so.

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Index to Findings: Sample of Symptoms and Systemic Causes

Finding	Symptom	Policy/Procedure Weakness
p01	Recent professional standards were not considered.	Inadequate professional development policy.
p02	Inadequate continuing education as required by regulatory bodies.	No maintenance or monitoring of continuing education files.
p03	Inadequate Government Auditing Standards CPE.	Firm has not identified individuals subject to the CPE requirements of Government Auditing Standards.
p04	Staff member did not receive professional pronouncement updates.	Did not comply with firm policy.
p05	Requirements of recently effective professional standards not identified.	Firm does have an effective tracking procedure.

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