Internal Revenue Service (IRS) instructions for Schedule K-1 explain how to report income, credits, deductions, and other items shown on the schedule. Contact your CRI advisor if you need assistance.
Our partners’ work is reviewed annually, and the inspection process includes periodic testing of the effectiveness of our quality controls and a continuous improvement program. This risk-based annual inspection is intended to mimic the triennial peer review and is performed on completed engagements. In addition to this inspection, we perform in-process “pre-issuance” reviews of our partners’ work chosen using a risk-based selection process. Our Corporate quality control team conducts these reviews. The combination of the in-process and complete engagement reviews make up a portion of our continuous improvement processes.
A peer independent public accounting firm performs our firm’s peer reviews every three years. The most recent review of our firm was conducted in 2019 by Brown Edwards, whose report was the most favorable possible, “Pass.”
In addition, we are registered with the PCAOB, and our 2018 PCAOB inspection report was also the most favorable possible—no audit deficiencies or quality control defects were identified.