Certified Public Accounting Firms

Thomas and Company CPA PA provides peer review services for other CPA firms across the USA through a comprehensive and rigorous evaluation process designed to ensure adherence to professional standards and enhance audit quality. Their peer review services include:

1. Review Planning: The firm initiates the process by understanding the specific needs and scope of the CPA firm’s audit engagements. This includes reviewing the firm’s quality control policies and procedures to tailor the peer review approach effectively.
2. Evaluation of Quality Control: Thomas and Company CPA PA assesses the CPA firm’s quality control systems, including compliance with industry standards such as those set by the American Institute of Certified Public Accountants (AICPA) and the Public Company Accounting Oversight Board (PCAOB). This involves examining the firm’s policies, procedures, and adherence to professional standards in audit engagements.
3. Fieldwork: The peer review team conducts detailed fieldwork, which involves reviewing a sample of audit engagements. This includes evaluating the adequacy of documentation, assessing compliance with auditing standards, and determining the effectiveness of the audit procedures performed.
4. Reporting: After completing the review, Thomas and Company CPA PA prepares a comprehensive report outlining their findings. This report includes an evaluation of the firm’s compliance with professional standards, identifies any deficiencies or areas for improvement, and provides recommendations for enhancing audit quality.
5. Follow-Up: The firm offers follow-up support to help the CPA firm address any issues identified during the peer review. This includes providing guidance on implementing corrective actions and improving quality control practices.

By delivering these peer review services, Thomas and Company CPA PA helps ensure that CPA firms maintain high standards of audit quality and compliance, thereby supporting the integrity of the profession and enhancing the reliability of financial reporting across the industry.