Most state boards of accountancy require its licensees to undergo peer review (compliance assurance), to practice in that state. The goal of practice monitoring, and the program itself, is to promote quality in the accounting and auditing services provided by CPA firms and individuals subject to peer review standards. This goals serves the public interest and enhances the significance of AICPA membership.
There are two types of peer reviews:
- System Reviews focuses on a firm’s system of quality control.
- Engagement Reviews focus on work performed on selected engagements.
AICPA requires all public accounting firms that are providing assurance services to clients to get an external peer review performed every three years of their systems and controls. We received an unqualified external peer review report in 2011 and again in 2014 with “Pass” rating.
Download a copy using the link below: Peer Review Report - 2011 Peer Review Report - 2014