“The introduction of ISQM 1 has raised the bar even further and created additional difficulties for many small firms.”
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 ISQM 1 review on your behalf. The review will consider the adequacy of your firm’s System of Quality Management whole firm procedures, 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.
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.