This is typically a review of the final report which may consist of:

• Reading the report
• Compliance with professional standards
• Proofing and math check
• Wording suggestions where appropriate
• Tie out and consistency throughout the report including dates
• Trace report balances to trial balance and other workpapers
• What’s not in the report that should be

Note: these are typical review steps. The actual steps are different for each firm and as agreed upon with each engagement.

• Typically book-to-tax trial balance and support schedules
• Other workpapers, as needed which are usually engagement unique and outside the more challenging that standard workpapers.

• Original research 
• A second set of eyes
• Alternative report wording
• Other as requested

• The most common scenario is that a sole proprietor’s malpractice insurer requires that a CPA other than the sole proprietor perform this review.  This can be a staff CPA, but many times it’s more practical for the outside CPA to perform the services due to scheduling issues or lack of expertise of the staff.
• Of interest, the peer reviewers like it. I had it written in my quality control manual which always received positive comments
• To have a CPA with experience to add value to the firm’s entire process
• In this regard, I have performed this service for larger firms as well