PCP Global Audit

The number of financial reporting and auditing standards along with the expected level of compliance are constantly increasing.

This imposes a greater burden on accountancy practices that are competing to provide cost-effective audits while maintaining full compliance with audit regulation and standards.

We can assist accountancy practices to ensure that compliance issues are dealt with, while at the same time providing a cost-effective audit for clients.

We can conduct your annual audit compliance review or ISQC 1 review on your behalf. The review will consider whole-firm procedures on audit matters, and the quality and cost-effectiveness of audit files. During the course of the review, we will de-brief partners and staff as necessary. We will then follow-up with a detailed report.

Areas of particular concern will be highlighted to you by way of specific recommendations on key areas where improvement is necessary.

PCP Action Plan Drafting

The report will include comments and suggestions on the following areas:

• Weaknesses in whole firm procedures
• Quantity and quality of CPD
• Completeness of technical library
• Adaptation of the audit approach under differing circumstances
• Appraisal of systems
• Eliminating over auditing
• Quality of audit planning and independence considerations
• Effective use of analytical review
• Techniques to ensure that sufficient audit evidence can be found on the files
• Checks to ensure disclosure requirements are being complied with
• Other improvements to audit files and procedures

A comprehensive set of notes on each audit file reviewed will be included as an appendix to the report.

We can follow up our visit with a specific training session for the partners and staff on any areas of weakness, if required.

The price is on application. Please contact Michael at Michael@pcplimited.com or Margaret at Margaret@pcplimited.com to discuss your requirements.

PCP Global