Peer Review Findings - What Auditors Miss   New

Upon successful completion of this course, the user should be able to:

• identify common peer review deficiencies in audit engagements, including issues involving risk assessment linkage, revenue recognition, documentation, sampling, controls, analytical procedures, management representation letters, service organizations, going concern, and independence;

• evaluate why recurring peer review findings occur, including overreliance on prior-year files, weak review practices, insufficient documentation of rationale and conclusions, and failure to tailor procedures to current-year risks; and

• apply practical strategies to improve audit quality by linking risks to procedures, strengthening documentation, refining review processes, and producing work papers that are clear, concise, and reperformable.