Inherent limitations of peer review: there are inherent limitations in the effectiveness of any system of quality control which happens to be subject matter of review, departure from the system may occur and may not be detected.. sir explain..

Questions › Category: CA-Final Peer Review › Inherent limitations of peer review: there are inherent limitations in the effectiveness of any system of quality control which happens to be subject matter of review, departure from the system may occur and may not be detected.. sir explain..

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Ashish Patel asked 6 years ago

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Ravi Staff answered 6 years ago

System of Quality Control = Adequate Staff / Regular Recruitment / Training / Update Sessions with Recent Standards & Changes / Keeping team Independent & Ethical / Use of good checklists / Regular Supervision , Review etc
Peer Reviewer determines whether system of quality control of firm is adequate and functioning properly.
But even if it appears adequate still mistakes can happen because of inherent limitations such as human error / error in judgement / ambiguity and contradictions in standards / time & cost constraints etc
so peer review banks on system of quality control which has inherent limitations so it becomes inherent limitation of peer review