- It can take up to 20 non productive hours to prepare the manuals and policies needed for your practice to be compliant with the quality control requirements
- You get expert independent advice on areas of where your practice you can improve before a quality assurance review
- Increasing your chances of being a compliant practice
- Reducing the level of risk that your practice is assessed by your accounting body and extending the time you will need another quality assurance review
- You and your staff being able to spend your time on productive billable hours that you lose preparing mandatory quality assurance documents and preparing for your review
- Being able to ensure your firms system of quality control meets the mandatory standards required and provide ongoing consultation and input into your process of continually improving your system of quality control
- Eliminating the need for you to employ a full time of part time person to oversee your practice system of quality control
In 2013 it was reported by CPA Australia that only 19% of members who undertook a quality assurance review were compliant to the mandatory quality standards required. The untold story here is that 81% of CPA members in 2013 were non compliant in some shape or form.
This is only further evidence that you are most likely going to be in need of help in the quality assurance area of your practice regardless of if you have currently been selected for a quality assurance review.