In response to the issues identified in a practice review, firms may be required to submit an action plan to CPABC within 30 days of completing their practice review. An Action Plan comprises a written response that includes assessing a firm’s system of quality management to understand the root cause for significant matters identified and steps to be taken by a firm to address each of the significant reportable deficiencies marked as needing to be specifically addressed. The action plan communicates to CPABC how a firm has chosen to respond to these matters and that the firm continues to strive to meet professional standards.
