Lohman Company Successfully Completes 2011 Peer Review

August 08, 2012

The partners and staff of Lohman Company, PLLC are pleased to announce that it has successfully completed a rigorous peer review of its accounting and auditing practice. The reviewers concluded that the firm’s system of quality control for the accounting and auditing practice in effect for the year ended April 30, 2011, has been suitably designed and complied with to provide reasonable assurance of performing and reporting in conformity with applicable professional standards in all material respects.

Lohman Company participates in the Peer Review Program, a practice monitoring program approved by the American Institute of Certified Public Accountants (AICPA), the national professional organization of CPAs. A firm participating in the Peer Review Program must have an independent review of its accounting and auditing practice every three years. The review was conducted under the auspices of the California Society of CPA’s Peer Review Program following standards issued by the AICPA.

Our peer review was performed by another independent CPA firm who qualified under the program’s requirements for service as a reviewer.  The reviewers first determined that we have an adequate quality control system, and then checked to see that professional standards were followed in a representative sample of our accounting and auditing engagements.  After thorough study of our policies and procedures, the reviewers concluded our firm complies with the stringent quality control standards established by the AICPA.

Its peer review rating of “pass” indicates Lohman Company meets the accounting profession’s high standards of quality and professionalism. If requested, the firm will provide a copy of the report on the results of the review to all interested parties although not required to do so.

Bankers, bonding agents, investors, suppliers, legal advisors and others use the financial statements our firm audits, reviews, or compiles.  We think those people, our clients, and our own staff deserve independent quality assurance that our firm provides quality services.  We are proud of our peer review results and would be happy to answer any questions you might have.