A peer review is a periodic outside review of a firms accounting and auditing practice aimed at helping the firm maintain and improve the quality of its services. We are pleased to announce the successful completion of an independent peer review of our firms accounting and auditing practice in May of 2014. The next peer review will be in May of 2017.
The Iowa Accountancy Examining Board, the state regulating agency for Certified Public Accountants in the state of Iowa, requires as a condition of renewal for a CPA firm license, that a firm that issues engagements subject to peer review must complete a peer review once every three years. Our participation demonstrates our desire to meet the profession's high standards of professionalism and our commitment to maintaining and improving the quality of our practice.
Our peer review was conducted by qualified reviewer, James N. Kennedy, CPA, of Kennedy & Kennedy CPA, Victorville, California. The reviewers first determined that we have an adequate quality control system, and then verified that professional standards were followed in a representative sample of our accounting and auditing engagements.
After thorough study of our policies and procedures, the reviewer(s) concluded our firm's system of quality control for the accounting and auditing practices in effect for the year ended 2013 has been suitably designed and complied with to provide reasonable assurance of performing and reporting with applicable professional standards in all material respects. Our firm is committed to periodic peer reviews to foster quality performance. If requested, the firm will provide a copy of the report on the results of the review to all interested parties, although it is not required to do so.
Bankers, bonding agents, investors, suppliers, legal advisors and others use the financial statements our firm audits, reviews, or compiles. We think those people, our clients, and our own staff deserve independent quality assurance that our firm provides quality service. We are proud of our peer review results and would be happy to answer any questions you might have.
To view our most recent peer review report, please click here