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PEER REVIEW <br />Reilti+ fur ijL IrI1 oiii11Iii iiid Auiting Practice .Aprilicabie to Non - <br />SF(' <br />4.1 1,CI!‘ 1)a; 1{nlejle 111:112.:,:leiliit11:12C101:11W:Ii11.2. of (I .; the IlitnZt <br />CX1i111 rt L 11117: ..!m: .11:citing rtti;e tutd c2) the der) of the firni's:sygtein of <br />qtiality tnipiisnt in its prneticu. inherent <br />lis).ir were •.sessell bi•iIn rntij itinclerstartiii...tg the firms it ta cdce, such the industries ur <br />diV.111S, Unit crihri laciory of complexity it c1ic7•Its, iind the orgallizaltin r ihc <br />1}1:7%$rt11L'1. 1100 v•M'i'132SE-'ed by obtamistgan. wilerlsm.rldirig <br />thL desipst •:,if th firin'i, systeiti quitity coatrOl. cIiidii audit methodulOgy, end <br />monitoring pioeedtirt risk: if 'lie process of evaluar:ng die effe.cveileSSof <br />14.".*.ivireil firms of u.th contiol ii plL.-;c:flus thc etft nii r. 4:..-nkilsenle-nt.5 that <br />(101101 coirwly <br />Periiirmitte the iZei.lew inr the VirtiiPs .Accoantinig tinr1 Audit-1)4E) Pnictice Applicable Cu <br />fliisd tin btu :t4i.r;v6isirrit cif the combined Irvel Of inherent anti contol <br />prat:licit units :mil seleeted engageiOnts ivithin tiv....se wets to [tr. fDr comi:liance with 11-te <br />itylitent qti thty cantro! The engage:mei:1st ele‘.4-.1 for Ter.i CW includi.-J cnaacements pelfo—nod <br />tinder 1)10 Lloyernmen1 Atglifing Situithirds, audits perfoTated uriext FDif:LA, 0.ri audiv: of <br />ftanployee Benefit Plans The engiiitements:Pelectell fur ii.tiu.t tcpresenteti etess--sectimt or Lite <br />filiti's %1CL:LANntitts arid auditing practite with emphasis on. higher -risk engagements: Ihe <br />tkimageintinl revims ineluded examining ivorkirig riper files and reports arid intewing <br />0 rig age it (ie./simile! <br />'I his i+eopu of the pi.k.er retie also indimud examirth:F,icIccicd Aniinisb-ative and siersorrici Elks <br />to determine complittite0 with the firm's pOlieies and procediges fbr the elotients Cii ipta!tt‘ <br />eiMtrol peitiiining to independence., integrity, and obj&tivit:,'; personnel Fitrrayienter:t: ittri <br />necciwniee .ini! contimionee of lients and en menus Prior to cUil'altiding the rcvtew, we <br />retissts1,0 the adequacy of scope and:coadinited a meeting with firm mitrineertw:d <br />limlings and recuttimendatiotis <br />