Skip to content

Enhancing Client Value through Nonattest Services Documentation

Jan 20, 2025

CRI upholds the highest standards of professional conduct, particularly in the execution and documentation of nonattest services such as financial statement preparation, bookkeeping, and tax services. These practices are closely examined during peer reviews*, where proper documentation of nonattest services is critical in maintaining compliance and delivering value to clients.

Best Practices in Documenting Nonattest Services

Our commitment to compliance and meticulous documentation involves maintaining detailed records of each nonattest service provided to clients. This includes clearly defining the objectives of the engagement, outlining the specific services performed, and documenting the roles and responsibilities agreed upon by both CRI and the client. These details are typically captured in an engagement letter, which is incorporated into the working papers and must be finalized before any nonattest services are performed. However, if a nonattest service is provided before the formal engagement period, immediate documentation is not required.

Safeguarding Independence

A central component of our approach is the rigorous identification and mitigation of potential threats to independence that may arise from performing multiple nonattest services. Addressing these threats promptly is important in preserving an objective and impartial stance. When potential threats are significant and exceed acceptable thresholds, safeguards are implemented to protect the integrity of our work. From identifying risks to applying safeguards, this process is thoroughly documented to comply with professional standards. Adhering to these practices demonstrates our dedication to ethical excellence in every professional engagement.

Meeting and Exceeding Regulatory Standards

Adequate documentation also includes a detailed assessment of client management’s qualifications, particularly their skills, knowledge, and experience in overseeing nonattest services. We maintain clear records of significant findings, judgments, and issues by following rigorous documentation standards, including strict adherence to AU-C section 230 on Audit Documentation. Additionally, all practice aids and tools used align with established quality control standards, supporting the reliability of our processes.

Regulatory bodies, such as the U.S. Government Accountability Office, often impose stringent independence requirements. By proactively monitoring and addressing these standards, we help to maintain the uncompromised quality of our services. Our commitment to professional excellence is embedded in our peer review processes, which are designed to help clients navigate regulatory complexities and achieve compliance with confidence.

How CRI Can Help

Our peer review services help your practice align with and surpass regulatory expectations. We add an additional layer of confidence by supporting your compliance strategies and maintaining the highest standards of documentation and independence. By adhering to rigorous documentation practices, safeguarding independence, and meeting regulatory requirements, we deliver unmatched value to our clients through nonattest services. If you have questions about how these processes can benefit your business or need expert guidance through the peer review process, contact us today to learn more.

Relevant insights

Join Our Conversation

Subscribe to our e-communications to receive the latest accounting and advisory news and updates impacting you and your business.

By proceeding, you are agreeing to the terms and conditions in the Carr, Riggs and Ingram Privacy Policy.

This field is for validation purposes and should be left unchanged.