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Technical

Walking the talk on quality control Logo aicpa

  Deborah K. Rood, CPA |   Free |   AICPA |   02 May 2016 |   Journal of Accountancy

Quality control, as every CPA knows, is a crucial component of an accounting practice. Yet quality control's importance isn't always prominently reflected in firm incentives. This article discusses several ways you can ensure that quality control is central to firm operations.

Topics covered:
  • Employee benefit plan auditing: Business: Strategy, Intermediate
  • Governmental auditing: Business: Strategy, Foundational
  • Financial accounting & reporting: Business: Strategy, Intermediate
  • Assurance: Business: Strategy, Intermediate
  • Not-for-profit: Business: Strategy, Intermediate
  • IT management & assurance: Business: Strategy, Intermediate
  • Firm practice management: Technical: Firm operations, Intermediate
  • Tax: Business: Strategy, Intermediate
  • Forensic & valuation services: Business: Strategy, Intermediate
  • Fair value measurement: Business: Strategy, Intermediate
  • Personal financial planning: Business: Strategy, Intermediate

1 Comments/Reflections

Tendai Nyakurimwa

Tendai Nyakurimwa May 2016

The article addresses issues to do with quality that are not accorded enough attention by many organizations. Reading the article has stressed on me that some quality problems can be solved by introducing incentives. A very good example is incentivizing billing so that receivables are kept on current. This has an effect of giving the employee power and zeal to make follow ups on outstanding receivables.
Though the article applies mainly to an accounting and auditing firm it can easily be used in any organization.
In my organization I plan to work on incentivizing the person responsible for collecting outstanding receivables. Granted, it requires consultations with top management. We have been experiencing huge problems on this front and I hope that this aspect may help to improve debtors days.