CBM Senior Advisor Tony Cuozzo, CPA, CGFM, and incoming partner Judy Barnhard, CPA, CFP®, CDFA® will present at the 2017 MACPA Practitioners Conference on the critical importance of smaller firms staying current with AICPA peer review standards. The session, entitled “Current Peer Review Issues / Considerations for Small Firms” will be held from 9:10 a.m. to 10:00 a.m. on Thursday, November 2.
In response to AICPA’s Enhancing Audit Quality Initiative, more peer reviews in Maryland have been selected for professional oversight.
“The objective of such oversight is to ensure the integrity of the peer review program and determine that peer reviews are being performed in accordance with the peer review standards,” said Cuozzo in a recent MACPA blog post. He emphasizes that firms need to stay current with standards through annual professional development or risk corrective action.
“All firms, large and small, are subject to scrutiny by the AICPA,” continued Cuozzo. “It is important to regularly follow changes in SSARS standards that result in formatting updates in compilation and review reports. Mistakes can lead to pass with deficiencies or fail reports.”
Cuozzo will be joined by Barnhard, who joins CBM as a partner on November 1 and has years of experience conducting peer reviews in the Washington, DC-area. She is a founding partner of May & Barnhard, an accounting and financial consulting firm.
The MACPA Practitioners Conference will be held at Martin’s West, 6817 Dogwood Road, Windsor Mill, MD 21244.
Interested attendees can register at www.macpa.org.