The accounting profession’s pursuit of quality in auditing has led CPAs and regulators to consider what factors might correlate with high-quality performance on an engagement.
A new study by the AICPA Peer Review team has revealed a set of factors that had a strong correlation with quality in single audits, which are compliance audits of governments, not-for-profits, institutions of higher education, and Indian tribes expending $750,000 or more in federal awards in a given year.
Read about the recommended tactics in this Journal of Accountancy article.
Looking for more insights and best practices on performing high-quality audits? Our Accounting & Attestation Conference is coming up on October 24, and the Accounting & Auditing Update seminar (also available as a webinar) is offered several times September through December.