The following are comments from practitioners about Quality Control. Quality Control and peer review in the public accounting profession are governmental methods of regulating the profession. There are two effects of regulation. First it gives a competitive advantage to a national CPA firm because they already need structures to administer their complex organizations. Quality control requirements do not significantly affect their structure. Smaller firms now need a more costly organizational structure which has proven unnecessary because of existing partner involvement on the engagement. The major advantage smaller firms have traditionally is a simpler and efficient organizational structure. Now that has been taken away. Second, quality control and peer review are not needed to regulate the profession. The first four elements of quality control have always existed. Do you agree with these comments relating to the public accounting profession? Do you agree with these comments if they were directed towards the Internal audit profession? Are quality control requirements worth their cost?

Please answer in full sentence format, 4-5 sentences for each question.