J.M. Abbott & Associates, Ltd. has successful review by peers

[April 05, 2017]  LINCOLN - J.M. Abbott & Associates, Ltd. of Lincoln, Illinois announced Monday 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 June 30, 2016, has been suitably designed and complied with to provide reasonable assurance of performing and reporting in conformity with the applicable professional standards in all material respects.

J.M. Abbott & Associates, Ltd. 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 Illinois Society of CPAs following standards issued by the AICPA.

The peer review of J.M. Abbott & Associates was performed by an independent CPA firm who qualified under the program’s requirements for service as a reviewer.

Its’ peer review rating of pass indicates J.M. Abbott & Associates, Ltd. 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.

J.M. Abbott & Associates, Ltd. serves businesses, individuals, and nonprofit organizations throughout the central Illinois area. The firm provides a full range of audit, accounting, tax, financial planning, estate planning, business and management consulting and wealth management services.

The AICPA is the national professional organization of CPAs with more than 360,000 members in business and industry, public practice, government, education, student affiliates, and international associates. It sets ethical standards for the profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination.

[Patty Guzouskis
J. M. Abbott & Associates, Ltd.]