Accounting Firm Support
Small to mid-sized accounting firms benefit from our experience as we share best practices and offer support in implementing quality control measures and monitoring of their own.
At Fazzari + Partners LLP, we have developed a reputation for outstanding quality control and that commitment is reflected in our decision to have Quality Control Committee supported by a partner of Professional Standards whose responsibilities include training, raising awareness and maintaining the firm’s high quality standards. Our clients benefit from this deliberate strategy as our reputation offers them additional credibility with banks, investors and other stakeholders.
Now, other small to mid-sized accounting firms can take advantage of the lessons we’ve learned as we share our best practices with them and offer support to help them implement quality control measures and monitoring of their own.
Newsletters
Fazzari + Partners LLP publishes regular newsletters containing detailed commentary and insight on the latest developments in the world of assurance and advisory services.
Seminars
Practitioners benefit from the useful information and real-world examples available through the firm’s ongoing seminar series created specifically for smaller accounting firms.
Monitoring
All accounting firms performing assurance engagements are required to establish certain monitoring processes. Fazzari + Partners LLP has the experience and the systems in place to help other firms comply with these requirements efficiently and cost-effectively. In particular, we can assist with:
- Ongoing monitoring: Firms must assess their quality control system annually and prepare reports on their findings. While firms can undertake this process themselves, they may not have an individual on staff with the requisite qualifications or the time to complete the assessment. Fazzari + Partners LLP has the expertise and the experience to offer these services.
- Cyclical inspection of completed files: Once every three years, at least one assurance engagement per partner must be inspected by an external monitor. Fazzari + Partners LLP has extensive experience reviewing engagement files. The benefits of hiring our firm to complete this cyclical inspection include:
- Ensuring your firm’s compliance with the required cyclical inspection
- Identifying file deficiencies and firm training needs
- Selecting someone to provide guidance on accounting and assurance issues
When the inspection is complete, we provide a report of our findings with recommended corrective action.
Quality Control Management
Our professionals can work with you and your firm to maintain and enhance the quality and performance of audits, reviews and other accounting engagements undertaken by the assurance and advisory groups at your firm. We can help you stay up-to-date with the ever-changing legislative, regulatory and professional standards requirements.