We are very proud to have successfully completed a rigorous peer review of our accounting and auditing practice. The reviewer concluded the firm complied with the stringent quality control standards set by the American Institute of Public Accountants (AICPA), the national professional organization of CPAs. This is the seventh consecutive review the firm has completed for which the reviewers ranked the firm in the highest category.
In fact, our level of compliance with these quality control and professional standards place us among an elite group of CPA firms across the nation.
What is a Peer Review?
Carried out in conjunction with participating state CPA societies and overseen by the AICPA, the AICPA Peer Review Program requires CPAs to have an outside review of their accounting and auditing practices every three years. These reviews determine whether a firm has suitable quality control policies and procedures and is complying with them. Specifically, the reviewers focus on the following:
- How the firm meets independence requirements
- How personnel are assigned
- Provisions for consultation when technical assistance is required
- How accounting and auditing engagements are performed and supervised
- Hiring practices
- Continuing professional education programs
- Obtaining and retaining clients
- Internal inspection of the firm’s work
- Compliance with accounting and auditing standards