The Challenge
An emerging audit and assurance firm aimed to expand beyond private company audits into the PCAOB audit market. To support this growth, they needed to build a scalable quality control infrastructure that aligned with PCAOB quality control expectations. Ensuring regulatory compliance, maintaining audit quality, and optimizing internal processes were essential to successfully scaling their PCAOB practice.
The Journey
| Timeline | Crew | Chiefs | Captains | Term |
|---|---|---|---|---|
| July – June | ✓ | Annual |
The Solution
CPAClub partnered with firm leadership to develop and implement a proactive strategy tailored to their specific challenges:
- Quality Control Manual Development – Designed firm-specific policies and procedures to align with PCAOB and AICPA quality control standards.
- Risk Assessment Checklists – Introduced structured engagement quality review (EQR) checklists to enhance risk identification and mitigation.
- On-Demand Technical Reviews – Provided flexible, support for technical accounting memo reviews and additional oversight on complex transactions.
- Engagement Quality Reviewer – Serving as the EQR for select engagements to ensure compliance with mandatory PCAOB requirements, particularly as the EQR role faces increased regulatory scrutiny.
The Impact
With CPAClub’s support, the firm successfully built the quality infrastructure needed to expand into the PCAOB audit market while maintaining excellence in its private company engagements.
- Scalable Quality Framework – Established a solid foundation to support PCAOB and private company audits.
- Regulatory Compliance – Ensured alignment with PCAOB and AICPA standards, eliminating barriers to market expansion.
- Operational Efficiency – Streamlined processes to enhance audit execution and reduce inefficiencies.
- Cultural Transformation – Fostered a proactive, quality-focused mindset across the firm.
- 5-Star Passholder Experience – Delivered high-touch, customized support that drove long-term value and positioned the firm for continued success.
