Practice Administration Review
Effective practice administration means a firm has quality control processes that enable it to meet the needs of clients while complying with standards and regulations. A practice administration review means a formal process by CPA Saskatchewan to gather information about a specific practice administration issue, to work with the firm to educate and/or develop and approve an action plan to address that issue, and to monitor that the approved plan is implemented. A formal practice administration review will occur on site at the firm.
After a practice administration review is complete, a corrective action plan is required from the firm for any serious deficiencies noted in firm quality processes. The plan needs to specify how change will be implemented. In addition to a corrective action plan, one of the following determinations by the Registration Committee may be made:
- Professional development activities specific to the practice administration issue.
- Follow-up practice administration review by CPA Saskatchewan within a specific period of time.
- Documentation of updated firm policy and procedure documents and/or firm structures and models sent to CPASK within 60 days of request.
- Ongoing on-site monitoring by CPA Saskatchewan or a practice monitor for a specific period of time.
- Practice restriction on the delivery of specific services.
- Practice inspection to occur within a specific period of time. The Registration Committee makes a referral to the Professional Practice Committee.
- Investigation to occur on areas where a breach of rules is apparent to the practice administration reviewer. The Registration Committee makes a referral to the Professional Conduct Committee.