If you are facing an upcoming monitoring visit from your institute, we can help you prepare with confidence. It pays to be proactive, but if you have already had a monitoring visit, and received a poor result, we can also help you to minimise the damage and get back on track.
Pre-Monitoring Visit Compliance Review
Preparing for a Monitoring Visit from Your Institute
Our pre-monitoring compliance review team truly understands the anxiety that accompanies a monitoring notification letter from your institute’s quality review team and the sleepless nights you face in the weeks coming up to their visit.
This stress is hardly surprising given the importance of the quality monitoring review. The consequences of a poor result can range from increased monitoring visits and external hot file, annual compliance and anti-money-laundering reviews – to restrictions on client type and the acceptance of new audit appointments – right through to the removal or suspension of an audit licence.
Take control of your institute’s monitoring visit and ensure a successful outcome. Book your review with us now and take the proactive step towards compliance.
How We Can Help
OmniPro has developed a Pre-Quality Monitoring Compliance Review designed to help you prepare for an imminent quality monitoring visit from your institute.
Our team is led by accountants who have previously worked with the institutes’ own review panels, so they have an insider view of the critical issues. We have worked with hundreds of firms, carrying out thousands of reviews for CAI, ACCA, CPA, ICAEW and ICAS regulated practices, and we take great pride in helping our clients get great results from their monitoring visits.
Our Pre-Quality Monitoring Compliance Review includes a whole firm health-check and a cold file review to ensure compliance with financial reporting regulations, auditing standards, your firm’s own internal procedures and your governing institute’s rules and bylaws.
The day will end with a full de-brief with the partners, followed by a written report highlighting any areas of weakness and providing a practical action plan to bring your firm into compliance in advance of the monitoring visit.
Benefit From Our Experience
You benefit from the peace of mind of having your practice reviewed by an independent set of eyes. In a sense, this is a ‘dry run’ of your actual monitoring visit, so any compliance issues are flagged in advance, and we advise you on how to address them. By taking a proactive approach, you can be confident that when your monitoring notification arrives, you are well prepared, and there will be no unpleasant surprises.
The OmniPro Pre-Monitoring Compliance Review – In Detail
The OmniPro pre-monitoring compliance health-check includes a whole-firm review and a cold file review. Our visit will commence with a face-to-face meeting with the partners, enabling us to conduct a high-level assessment of your practice.
The first part of the process, the whole-firm review, will include reviews of the following:
The second part of our review process is a cold file review of one or more of your completed audit files.
From only €1,400 (ex-VAT) for a one-day review.
Whether you’re seeking a comprehensive review or simply interested in learning more about how our Practice Support Team can assist you before or after your monitoring visit, simply complete the form below. Our dedicated team will be in touch to provide the expertise and support you require.