This session (in conjunction with the related 'Part 2' session) meets the annual training requirement for reviewers of governmental engagements. It may also be of interest to those who perform firms' internal inspections and others who wish to learn more about peer review findings in this area. Recent changes in peer review guidance related to governmental engagements as well as other key items related to peer reviewing these engagements will be covered. Note: both Parts 1 and 2 must be attended to meet the annual peer review training requirement for reviewers of governmental engagements.
By the end of the session, you will be able to identify common findings related to governmental engagements found in peer reviews and enhanced oversights, apply best practices when performing reviews of governmental engagements and recognize how recent changes in peer review guidance impact the reviews of these engagements. Although the session is designed for peer reviewers of engagements subject to Government Auditing Standards, non-peer reviewers looking to learn more about peer review may benefit as well.