Financial Audit Peer Review

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Financial Audit Peer Review

  • Performed by a large, international accounting firm (KPMG LLP) in accordance with AICPA peer review standards and Government Auditing Standards

  • Clean opinion – fourth straight time

  • Reviewers cited numerous good practices:

    • Major issues and significant consultations well documented
    • Internal inspection and peer review taken seriously
    • Comprehensive sampling plans used
    • Good use of tracking sheets and routing slips

  • Reviewers also suggested clarifying policies and procedures for documenting references to prior year testing and the assessment of management's internal control evaluation process

  • Similar to the performance audit peer review, the financial audit peer review has been made public