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Below is comprehensive information on peer review, including links to external sites and to AICPA Peer Review. For additional information from AICPA Peer Review, please click here. For information regarding the NYSSCPA Peer Review Committee, please click here.
This section provides an overview of peer review and is also designed to assist inexperienced reviewers and firms who are considering initiating a peer review practice in evaluating the benefits and costs and requirements of this specialized practice segment. Additionally, it provides experienced reviewers with marketing materials and ideas to expand their existing peer review practice.
1. For Peer Reviewers and Prospective Peer Reviewers:
A. Practice Management Tool Kits for Peer Reviewers
B. Practitioners Tool Kit for Peer Reviewers
C. How to Become a Peer Reviewer
D. Search for a Firm Enrolled in the AICPA Practice Monitoring Program (PRP)
2. For Firms Subject to Peer Review:
Quality Review Now in Effect! Click here for Resources/FAQs
B. An Introduction to New York State’s Mandatory Quality Review Program
C. Quality Review Becomes Mandatory on Jan. 1, 2012
D. NYSSCPA Approved as Sponsoring Org
E. Think Your Firm is Exempt from Mandatory Quality Review?: Take a Closer Look
F. NYS Education Dept. / Office of the Professions / Mandatory Quality Review
G. Regulations – Mandatory Quality Review
The link contained in this section contains materials which reviewers utilize in the conduct of peer reviews commencing on or after April 1, 2014.
Important Note to Reviewers:
Reviewers who received the 2014 Peer Review Program Manual hard copy materials also received a disc containing the entire Manual (including all forms, questionnaires, etc.) in electronic form. By uploading the disc to your computer, you will have not only all the forms, questionnaires and checklists needed to complete an engagement or system review electronically, but also have the ability to research technical issues as they arise through access to the Standards, Interpretations, Supplemental Guidance, etc., which are all contained in the uploaded file.
The NYSSCPA Peer Review Committee adopted a policy that requires all peer review related documents to be submitted to the NYSSCPA electronically. Except for special and limited circumstances, hard copy peer review documents for peer reviews commenced on or after April 16, 2010 will be rejected and returned to reviewers.
To assist you in submitting peer review documents electronically, the Guide contained in this subsection contains detailed information on, and guidelines for, electronic submission along with a comprehensive list of those documents which must be filed in electronic form.
This section includes guidance in addition to that provided by peer review interpretations and the Standards themselves, and forms part of the body of the AICPA’s peer review technical rules.
B. Peer Review Alert 14-06- November 2014 (pp. 1-2)
C. Peer Review Alert 14-04- August 2014 (pp.1-2)
D. Peer Review Alert 14-03- June 2014 (pp. 1-2)
E. Peer Review Alert 14-02- May 2014 (pp. 1-3)
F. Peer Review Alert 14-01- February 2014 (pp. 1-4)
G. Peer Review Alert 13-04- October 2013 (pp. 1-4)
H. Peer Review Alert 13-03- August 2013 (pp. 1-3)
I. Peer Review Alert 13-02- May 2013 (pp. 1-4)
J. Peer Review Alert 13-01 - February 2013 (pp.1-14)
K. Peer Review Alert 12-04 - October 2012 (pp. 1-6)
L. Peer Review Alert 12-03 – August 2012 (pp.1-4)
D. Peer Reviewer Focus- November 2014 (pp.3-4)
E. Peer Review Update – October 2014 (pp.1-3)
F. Peer Reviewer Focus – October 2014 (pp.4-6)
G. Peer Reviewer Focus- August 2014 (pp.2-5)
I. Peer Reviewer Focus- June 2014 (pp. 2-5)
J. Peer Reviewer Focus- May 2014 (pp. 3-8)
P. Peer Reviewer Focus- October 2013 (pp. 4-9)
Q. Peer Reviewer Focus - August 2013 (pp. 3-11)
R. Peer Review Update – July 2013
S. Peer Review Focus - May 2013 (pp. 4-6)
T. Peer Reviewer Focus - April 2013
U. Peer Reviewer Focus – March 2013
V. Peer Reviewer Focus - February 2013 (pp.14-18)
W. Peer Reviewer Focus – December 2012
X. Peer Review Update – November 2012
Y. Peer Reviewer Focus – October 2012 (pp. 7-10)
Z. Peer Reviewer Focus – August 2012 (pp.5-6)
SQCS No. 8 supersedes SQCS No. 7, which superseded SQCS’s No’s 2-6 (SQCS No. 2 superseded SQCS No. 1) and, accordingly, is the source of guidance from the Auditing Standards Board of the AICPA for an accounting firm’s responsibilities for a system of quality control, for its accounting and auditing practice, and also provides the meaning of certain terms used in SQCS’ in describing the professional requirements for firms and engagement partners. SQCS No. 8 should be read in conjunction with the Code of Professional Conduct.
1. AICPA Reported Results of the Oversight of the NYSSCPA Administration of the Peer Review Program
The main objectives of the Peer Review Board bi-annual oversight program are to provide reasonable assurance that: (1) the participating administering entities are complying with the administrative procedures established by the board as set forth in the AICPA Peer Review Program Administrative Manual; (2) reviews are being conducted and reported upon in accordance with the standards; (3) results of reviews are being evaluated on a consistent basis in all jurisdictions; (4) and information provided to firms and reviewers (via the Internet or other media) by administering entities is accurate and timely.
2. Annual Report of the NYSSCPA Peer Review Committee to the AICPA on Over sight and Other Activities:
Annually, the Committee submits a report to the AICPA including, but not limited to, information with respect to the conduct of its Over sight program including over sights of selected reviews and reviewers and related administrative procedures. In addition, statistics and other information regarding program enrollment statistics, results of peer reviews performed during the calendar year, number of, and reasons for, firms receiving reports of pass with deficiencies and fail, statistics regarding the number of engagements not performed or reported on in accordance with professional standards in all material respects, and a summary of Committee mandated corrective actions are also included in the Report to the AICPA.
Facilitated State Board Access (FSBA) - Frequently Asked Questions
The annual administrative fee is levied on program enrollees
to cover the costs
of administering the AICPA peer review program and Mandatory Quality Review in New York State.
Costs are incurred to complete all required administrative and technical aspects of the program including review scheduling, reviewer matching, background forms, extension requests, administrative review of peer reviews, technical review of peer reviews, review acceptance body meetings, required program oversight procedures, reviewer resume and CPE verification, reviewer alerts and other administrative and technical aspects of the program.
(Fee = Base Charge + Review Type, Firm Size and any non-member surcharges. Fee is capped)
|Firm Size Charge:|
Sole Practitioner (i.e., 1 prof.)
|No A&A practice:|
|$29 (i.e. 25% more)|
|Cap (maximum due)||$2270|
|First Time Enrollment Fee||$50|
*And added to the reinstatement fee will be any interim period unpaid annual administrative fees.