To achieve our objective of excellence in the firm's accounting and auditing practice Anderson, Tackman & Company, PLC has established a quality control program addressing the procedures necessary to attain our goal. The quality control program assures compliance with AICPA standards and firm policies addressing adherence to those standards. The document details firm policies in the following areas:
In addition to the quality control specifications, Anderson, Tackman & Company utilizes a monitoring and inspection program to assure adherence to and reinforce the review policies used on every audit engagement. The inspection procedures include:
The Firm's procedures require that all audit reports be reviewed prior to release by the partner-in-charge of the audit. Reports for clients operating in a specialized industry are reviewed by an individual who has experience and technical training in that industry.
Post-issuance Report Review
As part of the Peer Review Committee's responsibility, a sampling of reports are reviewed each year to assure that at least one report for each audit partner is reviewed over a three-year rotation.
Internal Inspection by Peer Review Committee
The committee has implemented an internal review program to assure that all offices are complying with the provisions of the Quality Control Program. The reviews are performed annually by a team of specially trained professionals from other Anderson, Tackman & Company offices, utilizing the American Institute of Certified Public Accountant's peer review guidelines. The internal inspection program includes all areas of the firm's practice, including the governmental practice.
Anderson, Tackman & Company has participated in the Quality Review Program of the American Institute of Certified Public Accountants. Firms participating in the program are required to have their accounting and auditing practice reviewed by another independent CPA firm. Performance of our latest external peer review was completed during 1998 by an independent peer review firm and an unqualified opinion was issued.
Continuing Professional Education Program
The firm's formal internal and external training program requires all staff to participate in at least forty hours of training each year. All personnel participating in the governmental section must have twenty-four hours of continuing education within a two-year period directly related to governmental accounting and auditing, a requirement of the revised yellow book.
Anderson, Tackman & Company's major focus is concerned with quality. Our firm's audit procedures require that each workpaper prepared by the staff be reviewed by a higher level person, with all workpapers reviewed by the engagement manager. The engagement manager is responsible for ensuring consistency in approach and compliance with firm quality control guidelines. The engagement partner will review the audit plan prior to commencement of preliminary audit procedures. He also reviews workpapers related to predefined critical areas, the financial statements and the various report opinions.