The Peer Review Oversight Committee (PROC) Summit is a program of the Compliance Assurance Committee (CAC), chaired by Janice Gray of the Oklahoma Board of Accountancy. The conference is held every other year to support and promote Peer Review Oversight as a critical and valuable practice for all Boards of Accountancy. The conference is intended to assist Boards in learning how to establish a new Peer Review Oversight Committee and also share experiences among existing PROCs to help each Board be more effective with Peer Review Oversight. Sessions and content are formed based on the most requested information by Accountancy Board Members and PROC Members considering the goals and objectives of the CAC. Below are detailed descriptions of the PROC Summit sessions:
PROC Standards and Uniformity
James Brackens of the American Institute of Certified Public Accountants (AICPA) will review the uniform standards and explain how and why we should strive for uniformity and reviewer consistency. Brackens will also provide a report on the progress that has been made thus far.
Breakout Option A: Starting from Scratch
Lead by CAC Chair and Oklahoma Board Member, Janice Gray, this breakout session is specially designed for Boards that do not have a Peer Review Oversight Committee formed yet and want to start the program at their Board and for newly formed PROCs. Attendees will learn how to develop a PROC from the ground up! Topics include: implementation of PROCs, guidelines for choosing PROC members, operating procedures, importance of attending RABs and issuing annual report to the board.
Breakout Option B: Lessons Learned
Intended for established PROCs, this session led by Richard Reisig of Anderson Zurmuehlen & Company, PC and CAC Member, will cover topics including: common PROC problems and solutions; importance of attending RABs and issuing an annual report to the board.
Managing the Process: A Cross-Section of PROCs
This panel discussion will offer insights about managing PROC programs from different and unique perspectives. Panel members include: Mason Andres, Texas PROC Chair, Willoughby (Wib) Wright, Mississippi PROC Chair, Mike Gibson, Oklahoma PROC Member and Art Sparks, CAC member covering oversight of the NPRC.
Dealing with Failed Reports
Attendees will be asked to participate in an open mic discussion to share how their Boards are handling failed Peer Reviews, repeat failed Peer Reviews, etc. Robert Cagnassola of Suplee, Clooney & Company and CAC member from New Jersey will facilitate what is sure to be an engaging discussion on this important topic.
Compliance Assurance Committee (CAC) Report
CAC Chair, Janice Gray will give a report on the Committee’s charge, composition, mission and objectives including a status report from the committee.
Open Forum Discussion and Summations
The day will be wrapped up with this opportunity to address any burning questions from attendees that were not covered or answered during the day. Question cards will be collected from attendees. CAC member, Alan Long of Baldwin CPAs, PLLC, will moderate the discussion.
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