Which frequency is specified for external peer reviews under GAGAS?

Which frequency is specified for external peer reviews under GAGAS?

• A. Annually
• B. Every 3 years
• C. Every 5 years
• D. Only when requested

Answer: (B)

The frequency tested is the interval at which an external peer review of the organization’s quality control system for government audits must occur. Under GAGAS, this external review is required on a three-year cycle, conducted by an independent reviewer or team. This cadence ensures an objective, periodic assessment of how well the organization adheres to applicable standards and practices, and it prompts timely improvements. Annual reviews would be unnecessarily burdensome, a five-year interval could let issues slide too long, and reviews aren’t required only when requested. Therefore, the specified frequency is every three years.

The frequency tested is the interval at which an external peer review of the organization’s quality control system for government audits must occur. Under GAGAS, this external review is required on a three-year cycle, conducted by an independent reviewer or team. This cadence ensures an objective, periodic assessment of how well the organization adheres to applicable standards and practices, and it prompts timely improvements. Annual reviews would be unnecessarily burdensome, a five-year interval could let issues slide too long, and reviews aren’t required only when requested. Therefore, the specified frequency is every three years.