MNCPA Perspectives: Peer Review

Better (12 years) late than never
September 4, 2018  |  By Faye Hayhurst, CPA
This just in: Effective Oct. 1, 2018, peer reviewers will be applying new guidance approved by the AICPA Peer Review Board in August. The new guidance affects how peer reviewers will look at a firm’s compliance with audit risk assessment standards in AU-C 315 and 330. Read more
Better late than never, part 2: There's help!
November 29, 2018  |  By Faye Hayhurst, CPA
My Sept. 4 blog, "Better (12 years) late than never," discussed the new way peer reviewers are evaluating a firm's compliance with audit risk... Read more
Systemic controls or systemic cause?
November 20, 2018  |  By Faye Hayhurst, CPA
We use buzzwords as a shortcut to refer to broad concepts in business. Buzzwords can be relatively straightforward and well-accepted (“return on... Read more
PRIMA year 2: Getting better
May 15, 2018  |  By Faye Hayhurst, CPA
It was August 2017 at the annual AICPA Peer Review Conference, and there seemed to be a word on everyone’s lips. It was muttered usually in... Read more
Familiarity: Threat or benefit?
April 19, 2018  |  By Faye Hayhurst, CPA
Is familiarity a good thing or a bad thing? The correct answer is both “yes” and “no.” As with so many things, it all depends on the situation.... Read more
BOA rule change affects peer review for new firms
February 2, 2018  |  By Faye Hayhurst, CPA
Revised administrative rules were published by the Minnesota Board of Accountancy (BOA) on January 10, 2018. The most significant changes have to do... Read more