Your
Assurance
of
a
High
Quality
CPA
Firm
Do
you
sometimes
wonder
how
our
CPA
firm
measures
up
to
the
strict
standards
of
the
profession
-
the
American
Institute
of
CPA’s
Code
of
Professional
Ethics
and
its
mandatory
system
of
quality
control
policies
and
procedures
for
CPA
firms?
It
is
an
important
point
to
consider,
because
your
continued
confidence
in
our
firm
should
be
based
on
more
than
a
vague
evaluation
of
our
reputation
in
the
business
community
or
even
the
qualifications
of
the
partners
and
staff
who
provide
you
with
services.
You
should
be
able
to
rely
on
a
more
objective
basis
for
evaluating
the
quality
of
a
firm.
Division
Membership
We
heartily
agree
and
have
voluntarily
joined
the
Division
for
CPA
Firms
of
the
American
Institute
of
CPAs
to
prove
it.
As
a
member
of
the
Division,
we
enthusiastically
submit
our
practice
to
a
comprehensive
‘quality
review’
every
three
years.
Known
as
a
Peer
Review,
this
process
involves
a
specially-trained
team
of
CPAs
from
other
CPA
firms
who
spend
several
days
evaluating
our
system
of
quality
control.
What
is
Reviewed?
In
addition
to
reviewing
our
accounting
and
auditing
policies
and
procedures,
the
team
also
determines,
for
example,
that
each
partner
and
professional
staff
member
participates
in
a
minimum
of
120
hours
of
continuing
professional
education
every
three
years.
Other
areas
reviewed
by
the
team
include:
- Recruiting
practices,
to
make
sure
we
invite
only
the
most
qualified
individuals
to
join
our
professional
staff
- Scheduling
practices,
to
make
sure
that
the
most
qualified
individuals
are
assigned
to
an
engagement
- Supervision
practices,
to
make
sure
that
professional
staff
assigned
to
an
engagement
are
adequately
supervised,
to
assure
efficient
and
effective
services
to
our
clients
- Promotion
practices,
to
make
sure
only
qualified
individuals
are
given
more
responsibilities
for
providing
services
to
our
clients
The
Results
Following
a
thorough
and
objective
analysis,
the
reviewer
team
issues
a
‘report
card’
on
their
findings.
Every
firm
undergoing
a
peer
review
hopes
to
receive
an
unqualified
report,
synonymous
with
an
‘A’
for
the
firm’s
professional
practice.
We
think
you
should
know
the
results
of
our
unqualified
report
because
it
confirms
that
your
continued
confidence
in
our
firm
is
well-placed.
We
also
think
you
should
know
that
we
are
presently
among
only
a
fraction
of
CPA
firms
throughout
the
United
States
which
have
voluntarily
chosen
to
put
their
commitment
to
quality
to
the
test.
Also,
more
and
more
organizations
in
the
public
and
private
sectors
are
beginning
to
recognize
that
Division
membership
is
a
valuable
barometer
for
evaluating
a
CPA
firm’s
competency
and
capabilities.
- The
Securities
and
Exchange
Commission
has
stated
that
all
CPA
firms
auditing
publicly-traded
companies
should
have
a
peer
review
and
is
considering
making
peer
review
a
requirement.
- The
Rural
Electrification
Administration
has
determined
that
CPA
firms
auditing
REA
borrowers
will
be
required
to
go
through
this
type
of
peer
review
and
that
the
report
be
available
to
the
public.
- The
General
Accounting
Office
is
considering
a
similar
requirement
for
governmental
audits.
- Over
the
past
year,
hundreds
of
individual
bankers
requested
copies
of
peer
review
reports
for
specific
CPA
firms.
You
are
encouraged
to
request
a
copy
of
our
most
recent
peer
review
report.
It
is
the
definitive
document
on
our
firm’s
practice
and
reaffirms
our
continued
commitment
to
excellence
within
the
profession.
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2005
MDA
Professional
Group,
P.C.
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