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Nebraska Board of Public Accountancy

The Board is responsible for licensing and regulating Certified Public Accountants (CPAs) and Public Accountants (PAs) in Nebraska.

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STATISTICAL SUMMARY OF REPORTS REVIEWED

FOR THE 2007 REVIEW PERIOD

  Type 1 Type 2 Type 3 Type 4 TOTALS
Audits 4 12 14 3 33
Reviews 4 24 7 2 37
Compilations 14 50 8 5 77
TOTALS 22 86 29 10 147


77 Exemptions granted to practice units
60 Did not issue reports

GENERAL INFORMATION ABOUT THE QEP PROGRAM

HISTORICAL STATISTICS

 

The Most Common Problems On 2007 Reports

The QEP Committee determined the following six issues were the most common problems:

  1. SOP 01-6 Accounts Receivables incomplete disclosures
  2. Material overdrafts not moved to liabilities
  3. Using tax depreciation on GAAP financial statements without proper disclosure
  4. Contractor disclosures incomplete regarding – uncompleted jobs and back log, lack of allocation of indirect expenses
  5. Incorrect wording in compilation and review reports
  6. Governmental audit reports omitted references to opinion units



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QEP REPORTING FORMS QEP PROCEDURES
PRE-ISSUANCE REVIEW GUIDELINES
QEP REVIEW RATINGS GUIDELINES
SUGGESTED MINIMUM RESOURCES LIBRARY
This is a list of recommended resources that practitioners preparing Audits, Reviews and Compilations should have on hand. This list is not all-inclusive and should be adapted to your practice unit depending on the kind of work it does.
If you have additional questions please contact our office at (402)471-3595 or Toll Free at 1-800-564-6111(Nebraska Only)or Contact Us.