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Scope Limitation Waivers

 

A reviewed firm may have legitimate reasons for excluding an engagement from the scope of the peer review, such as the engagement is subject to litigation. In these situations, the reviewed firm should submit a written statement to the VSCPA prior to the commencement of the review, indicating a) it plans to exclude an engagement(s) from the peer review selection process, b) the reasons for the exclusion and c) it is requesting a waiver from a scope limitation in the peer review report. Requests should be submitted to: Peer Review Program, VSCPA, 4309 Cox Road, Glen Allen, VA 23060; fax to (804) 273-1741; or email [email protected].

Acceptable reasons for excluding an engagement

  1. The engagement is subject to litigation.
  2. Client will not permit the firm to make the engagement available.

Unacceptable reasons for excluding an engagement

  1. The engagement working papers are in a warehouse.
  2. The firm no longer performs the audit for that client (and still has access to the documentation).
  3. The firm decided to no longer perform audits.
  4. The engagement was selected during the last peer review.
  5. The partner on that engagement will not be available for the scheduled dates of the peer review.
  6. The firm no longer performs engagements in that industry.