What Remedial Actions should be Taken Now?
EQC video briefing · Core guide
After an Inspection: Remediation that can be Proven
An inspection finding is only the starting point. This video explains how to turn corrective actions into credible, testable improvement: identify root causes, assign ownership, update affected processes, retain implementation evidence, monitor operation and re-test results. It helps CPA practices demonstrate that remediation is operating rather than merely documented.
It is still not late to approach us after the AFRC Inspection findings were out. And it is important to make sure actions for improvement of your Inspection’s internal control are taken accordingly, with reference to your response letter. In other words, you need to understand what problems had occurred previously, and what remedial actions can you take at the present stage.
To prevent same deficiencies from happening again, internal control measures should be strictly implemented for the improvement of the overall efficiency of your Practice.
But how can this be achieved in a short period of time, followed by continuous monitoring by the Institute?
With a team of professional consultants, we offer a wide array of services including staff/practitioner audit training with the help of custom-made working paper templates and instruction manuals. This can ensure resources can be used more efficiently in your Inspection. Our team have also acted as the external monitor reviewer in various engagements, in order to improve and maintain a high standard of internal control of practices.
In essence, we endeavor to combine audit effectiveness with audit efficiency.
Find us now at Tel: 9543-3218 for more detailed information of our services.
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