The majority of audits and attestation engagements performed by the Office of Auditor of State are conducted in accordance with Generally Accepted Government Auditing Standards (GAGAS). These standards, established by the Comptroller General of the United States, require audit organizations performing audits and attestation engagements in accordance with GAGAS to have an external peer review performed by independent reviewers at least once every 3 years. The external peer review provides a reasonable basis for determining whether the audit organization's system of quality control was suitably designed and whether the audit organization is complying with its quality control system to provide the audit organization with reasonable assurance of conforming with applicable professional standards.
The Office of Auditor of State complies with this requirement by participating in the National State Auditor's Association (NSAA) External Peer Review Program which is administered by the National Association of State Auditors, Comptrollers and Treasurers (NASACT).
An external peer review is an important element in performing quality audits. External peer reviews provide an opportunity for maintaining and improving the quality of audit work performed. An external peer review also provides the general public confidence in the audits performed by the Office of Auditor of State.
The Office of Auditor of State's most recent peer review was conducted in August 2016 and covered audit reports issued from July 1, 2015 through June 30, 2016. The review team included certified public accountants from the state auditor's office's of seven other states. The review team gave a peer review rating of pass in its report, which is the highest level of assurance an external peer review team can give. The next peer review is scheduled for 2019.