Quality control of accounting firms is an important means to ensure business quality. This paper will discuss the quality control of accounting firms from many aspects to help readers understand the relevant knowledge in this field.

Emphasize quality

The performance evaluation, salary, promotion and incentive system designed by accounting firms should emphasize quality and establish a correct code of conduct for all employees.

Clear standards and procedures

Accounting firms should not only decide whether to undertake business according to the level of fees, but also should not be decided by department managers themselves. There should be clear standards and procedures for conducting business.

Filing period

The filing period of legal business working papers is within 60 days after the business report date, including legal business such as audit and review of historical financial information.

Quality control review

Accounting firms should review the quality control of specific businesses, not just listed companies. In order to ensure the quality reasonably, the firm should determine the corresponding standards and review the businesses that meet the standards.

Issue a report after differences of opinion are resolved.

Only after the differences of opinion are resolved can the project partners issue the report. If the report is released before resolving the differences of opinion, it may lack due caution, resulting in improper report and difficult to achieve the goal of quality control.

Periodic inspection

The accounting firm shall regularly select the completed business for inspection, and the longest period shall not exceed 3 years. In the annual cycle, at least one business of each project partner should be checked to ensure the effectiveness of quality control.