What is Peer Review
Firms enrolled in the AICPA Peer Review Program are required to have a peer review, once every three years, of their accounting and auditing practice related to non-Security and Exchange Commission (SEC) issuers covering a one-year period. The peer review is conducted by an independent evaluator, known as a peer reviewer. The AICPA oversees the program, and the review is administered by an entity approved by the AICPA to perform that role.
Why is Peer Review Important to our Clients
Part of our commitment to our clients is to provide the highest quality professional services, ensure compliance with the latest industry standards and meet the strict integrity guidelines set for the practice of public accounting, and so we voluntarily submit to “Peer Review.” The peer review helps to monitor a CPA firm’s accounting and auditing practice (practice monitoring). The goal of the practice monitoring, and the program itself, is to promote quality in the accounting and auditing services provided by the AICPA members and their CPA firms. This goal serves the public interest and enhances the significance of AICPA membership.
Our Peer Review Rating
When a CPA firm receives a report with a peer review rating of pass, the peer reviewer has concluded that nothing came to his or her attention that the CPA firm’s work was not performed and reported on in conformity with applicable professional standards in all material respects. This is the highest rating that can be received after a peer review. Our latest peer review was December of 2018 and our rating was a pass. In the peer review report, we met all acceptable practice standards, and complied within the parameters as established by the regulatory body of the AICPA. We value this process and our membership in the AICPA. We do all this to benefit you, our valued client. Our prior peer review report was also a pass and was dated November 12, 2015.