VSH & Associates

VSH & Associates has successfully obtained the Final Peer Review Report for the three year period of 2009-10, 2010-11 and 2011-12 which has been issued on 25th March 2013 without any qualifications and adverse comments. Specifically, the Peer Reviewer has opined that the quality control for the attestation services of the firm has been designed so... as to carry out professional attestation service assignments in a manner that ensures compliances with technical standard laid down by the Institute and maintenance of the quality of attestation service work they perform. Peer review means an examination and review of the systems and procedures to determine whether they have been put in place by the Practicing Unit for ensuring the quality of attestation services as envisaged and implied/mandated by the Technical Standards, Ethical Standards and Professional standards and whether these were effective or not during the period under review. The reputation and acceptability of a learned profession hinges on its ability to render the highest quality of services to the society. Towards this end, the Institute of Chartered Accountants of India (ICAI) is using the concept of peer review as a tool for enhancing the quality of services rendered by professional accountants. The Institute, recognizing the need to observe the best international practices, has established the system of peer review. Peer review helps in reassuring the stakeholders and the society at large that the profession is conscious of its responsibilities and is always striving to ensure that the highest standards are observed by all practicing members rendering audit and attestations services to the society. The main objective of the peer review is to ensure that in carrying out their professional attestation services assignments, the Institute's members in practice: (a) comply with the Technical Standards laid down by the Institute; and (b) have in place proper systems (including documentation systems) for maintaining the quality of the attestation ...Read More