Keshav Prem & Associates, PC – CPAs

Quality Control Policy

Effective Date: April 01, 2025

At Keshav Prem and Associates, PC, our commitment to quality is at the core of our professional practice. We adhere to the American Institute of Certified Public Accountants (AICPA) Quality Control Standards and strive for excellence in all services we provide. This Quality Control Policy outlines the principles, procedures, and internal practices that ensure we maintain a high standard of professional service and ethical conduct.

1. Leadership Responsibilities

  • Firm leadership is committed to promoting a culture of quality, ethics, and integrity throughout the organization.
  • Responsibilities for quality control are clearly assigned to a qualified professional.

2. Relevant Ethical Requirements

  • All staff must comply with the AICPA Code of Professional Conduct and applicable state board rules.
  • Annual independence and ethics statements are signed by all professional staff.

3. Client Acceptance and Continuance

  • We perform a documented risk evaluation before accepting or continuing with an engagement.
  • We consider the client’s integrity, financial condition, and potential conflicts of interest.

4. Human Resources

  • We ensure that our personnel possess the necessary competence, capabilities, and commitment to ethical principles.
  • Staff are selected based on their qualifications and are supervised appropriately.
  • Continuing professional education is required to maintain competency.

5. Engagement Performance

  • We follow standardized engagement procedures, templates, and checklists to maintain consistency.
  • All reports and financial statements are reviewed before issuance to ensure compliance with professional standards.
  • Complex or high-risk engagements are subject to additional quality review by experienced personnel.

6. Monitoring and Review

  • We conduct periodic internal inspections of our engagements and quality control system.
  • Corrective actions are taken where deficiencies are identified, and improvements are documented.

7. Documentation and Retention

  • Engagement documentation is retained in accordance with our Document Retention Policy.
  • Workpapers and quality control documentation are securely stored and accessible for peer review or regulatory purposes.

8. Peer Review Participation

We participate in the AICPA Peer Review Program and are committed to transparency and continuous improvement based on reviewer feedback.

9. Continuous Improvement

We regularly evaluate our quality control procedures to align with evolving professional standards and best practices. Feedback from clients, staff, and peer reviews is used to refine our approach.

Contact Information

For questions regarding our quality control policies, please contact:
Keshav Prem and Associates, PC
4260 Westbrook Dr, Suite 107
Aurora, IL 60504
Phone: Pl see the home page
Email: Pl see the home page