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Re: DALLAS BUZZ post# 28096

Friday, 06/22/2018 1:29:07 PM

Friday, June 22, 2018 1:29:07 PM

Post# of 50027
Thanks, more from your link...

The following rules for HOW TO conduct "Concurring Partner Reviews" suggests that as much as 2 weeks COULD be necessary to finish this audit process.


The concurring partner reviewer's responsibility is fulfilled by performing the following procedures:

*Discussing significant accounting, auditing and financial reporting matters with the audit engagement partner;

*Discussing the audit engagement team's identification and audit of high-risk transactions and account balances;

*Reviewing documentation of the resolution of significant accounting, auditing and financial reporting matters, including documentation of consultation with firm personnel or resources external to the firm's organization (such as standard-setters, regulators, other accounting firms, the AICPA, and state societies)6/;

*Reviewing a summary of unadjusted audit differences;

*Reading the financial statements and auditors’ report; and
Confirming with the audit engagement partner that there are no significant unresolved matters.

These procedures provide the basis for the concurring partner reviewer to perform an objective review of accounting, auditing and financial reporting matters that were considered significant by the engagement team in conducting the audit. The concurring partner reviewer is not responsible for searching for additional matters to be considered by the engagement team. However, significant matters not previously identified by the engagement team that come to the concurring partner reviewer's attention should be referred to and resolved by the engagement team with the concurrence of the concurring partner reviewer.



As noted above, this is a very involved process of CYA-ing the partners' collective backsides. If they are legit, they will err on the side of doing more rather than less, IMO.

Just trying to set realistic expectations as to when a PR may be forthcoming.

[b]GO $ALKM$ !!!