To Ensure AICPA Compliance

The American Institute of Certified Public Accountants (AICPA) requires all CPAs and public accounting firms that are performing attest services undergo an in-depth peer review process every three years. The purpose of these reviews is to ensure that every individual CPA or CPA firm’s accounting and auditing services meet the AICPA’s quality control standards.

The CPA peer review process typically covers three essential areas:

1. review of all organizational or functional levels within the firm
2. review of selected engagement working paper files and reports
3. review of documentation indicating the firm's compliance with membership requirements

Upon completion of the CPA peer review, the reviewer discusses the findings with the reviewee and issues a detailed report. If the results of the CPA peer review process reveal any areas of non-compliance or quality control deficiency, a number of sanctions may be imposed by the AICPA, including:

• continuing professional education (CPE) training
• censures and reprimands
• fines
• suspension of membership

In addition to offering accounting services for small business owners in the greater Pittsburgh region, the accounting firm of EG Conley works with individual CPAs and CPA firms to conduct fair and balanced CPA peer reviews or quality control consulting for peer review preparation.

We've helped countless CPAs achieve and maintain a spotless record of AICPA compliance. If you or your firm has a CPA peer review scheduled in the coming year, contact the experts at EG Conley for assistance ensuring there are no surprises.