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Peer Review

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.

Section I: About Peer Review (PR)

Section II: Mandatory Quality Review in NYS Effective 1/1/12

Section III: Peer Review Standards Effective 1-1-12, Available in Digital Format

Section IV: System Review: Supplemental Risk Assessment Form

Section V: Creating Electronic Files and Filing Peer Review Reports and Documentation Electronically

Section VI: Peer Review Alerts

Section VII: Peer Reviewer Focus and Updates

Section VIII: Government Auditing Standards

Section IX: SQCS No. 8

Section X: About Peer Reviewers

Section XI: Recent Professional Standards Developments

Section XII: Information and Reports Regarding NYSSCPA Administration of the Peer Review Program

Section XIII: Conferences, Seminars and Peer Review Training Materials

Section XIV: Facilitated State Board Access

Section XV: Peer Review Administrative Fees

Section I: About Peer Review

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. Why Become a Peer Reviewer
D. How to Become a Peer Reviewer
E. Other Resume Code Clarification (Second section, “Reviewer Resume Experience Code)
F. Peer Review: An Emerging Niche Market (The CPA Journal, July 2008)
G. Search for a Firm Enrolled in the AICPA Practice Monitoring Program (PRP)

2. For Firms Subject to Peer Review:

A. Peer Review Questions & Answers Booklet
B. Enrollment Form
C. How to Find a Peer Reviewer

Section II: Mandatory Quality Review in NYS Effective 1/1/12

A. Mandatory Quality Review Now in Effect! Click here for Resources/FAQs
B. Society Can Help You Navigate New Quality Review Law
C. A Brief Primer on Key Provisions of the Mandatory Quality Review Program
D. NYSSCPA Approved as Sponsoring Org
E. Think Your Firm is Exempt from Mandatory Quality Review?: Take a Closer Look
F. An Introduction to New York State’s Mandatory Quality Review Program
G. Quality Review Becomes Mandatory on Jan. 1, 2012
H. Regents Adopt Quality Review Regulations
I. NYS Education Dept. / Office of the Professions / Mandatory Quality Review
J. Regulations – Mandatory Quality Review

Section III: Peer Review Standards Effective 1-1-12, Available in Digital Format

The links contained in this section contain materials which reviewers utilize in the conduct of peer reviews commencing on or after January 1, 2011. Sub sections B and C are links to the AICPA web site containing all forms, questionnaires and checklists in electronic form required for field work on system reviews and engagement reviews, respectively. They are in fillable PDF format, meaning that they can be downloaded to a PC, filled in by typing, saved to a PC and transmitted from a PC. Adobe reader is required and is available at no charge at http://www.adobe.com/products/acrobat/readstep2.html. (See section III, a Guide to Electronic Filing, for detailed instructions on electronic filing.)

Important Note to Reviewers:

Reviewers who received the 2012 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.

A. 2012 Peer Review Program Manual

B. 2012 Team Captain Package-System Reviews

C. 2012 Review Captain Package-Engagement Reviews

D. Peer Review Program Manual- 2011 Edition

E. 2011 Team Captain Package–System Reviews

F. 2011 Review Captain Package –Engagement Reviews

Section IV: System Review: Supplemental Risk Assessment Form

Considerations for Assessing Components of Peer Review Risk

Section V: Creating Electronic Files and Filing Peer Review Reports and Documentation Electronically:

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 that date 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.

Guide for Submitting Peer Review Documents Electronically

Section VI: Peer Review Alerts

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.

A. Peer Review Alerts

B. Peer Review Alert 14-01- February 2014 (pp. 1-4)

C. Peer Review Alert 13-04- October 2013 (pp. 1-4)

D. Peer Review Alert 13-03- August 2013 (pp. 1-3)

F. Peer Review Alert 13-02- May 2013 (pp. 1-4)

F. Peer Review Alert 13-01 - February 2013 (pp.1-14)

G. Peer Review Alert 12-04 - October 2012 (pp. 1-6)

H. Peer Review Alert 12-03 – August 2012 (pp.1-4)

I. Peer Review Alert 12-02 - June 2012

J. Peer Review Alert 12-01 – May 2012

K. Peer Review Alert 11-07 - October 2011

L. Peer Review Alert 11-06 – August 22, 2011

M. Peer Review Alert 11-05 – August 2011

N. Peer Review Alert 11-04 – June 2011

O. Peer Review Alert 11-03 - May 2011

P. Peer Review Alert 11-02 – March 2011

Q. Peer Review Alert 11-01 – February 2011

Section VII: Peer Reviewer Focus and Updates

A. About  Peer Reviewer Focus

B. Peer Reviewer Focus- March 2014

C. Peer Reviewer Focus- February 2014

D. Peer Review Focus – December 2013

E. Peer Reviewer Focus – November 2013

F. Peer Reviewer Focus- October 2013 (pp. 4-9)

G. Peer Reviewer Focus - August 2013 (pp. 3-11)

H. Peer Review Update – July 2013

I. Peer Review Focus - May 2013 (pp. 4-6)

J. Peer Reviewer Focus - April 2013

K. Peer Reviewer Focus – March 2013

L. Peer Reviewer Focus - February 2013 (pp.14-18)

M. Peer Reviewer Focus – December 2012

N. Peer Review Update – November 2012

O. Peer Reviewer Focus – October 2012 (pp. 7-10)

P. Peer Reviewer Focus – August 2012 (pp.5-6)

Q. Peer Reviewer Focus – May 2012

R. Peer Reviewer Focus - March 2012

S. Peer Reviewer Focus - January 2012

T. Peer Reviewer Focus – November 2011

U. Peer Reviewer Focus – October 2011

V. Peer Reviewer Focus - July 2011

W. Peer Reviewer Focus - April 2011

X. Peer Reviewer Focus - October 2010

Section VIII: Government Auditing Standards

A. OMB Circular A-133

B. OMB Circular A-133 Audit Refresher-Major Programs

C. Final Draft 2012 OMB Circular A-133 Compliance Supplement

D. Government Audit Quality Center: Various Reporting and Internal Control Matters (August 2011-July 2012)

Section IX: Statement on Quality Control Standard No. 8

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.

Statement on Quality Control Standards No. 8 and No. 7, A Firm’s System of Quality Control

Section X: Information about Peer Reviewers

Looking for a Reviewer? Search here.

Section XI: Recent Professional Standards Developments

This portion of the peer review website is currently being updated.

Section XII: Information and Reports Regarding NYSSCPA Administration of the Peer Review Program

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.

A. AICPA Report on 2010 Oversight of NYSSCPA Administration of the Peer Review Program

B. AICPA Report on 2012 Oversight of NYSSCPA Administration of the Peer Review Program

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.

2012 NYSSCPA Annual Report on Oversight Activities.

Section XIII: Conferences, Seminars and Peer Review Training Materials

2012 Annual AICPA Peer Review Conference Materials

Section XIV: Facilitated State Board Access

Facilitated State Board Access (FSBA) - Frequently Asked Questions

FSBA - FAQs

Section XV: Peer Review Administrative Fees

The annual administrative fee is levied on program enrollees to cover the costs of administering the AICPA peer review program 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.

Formula

Base Charge    $142
Review Type:

System 

$221

Engagement 

$98
Firm Size Charge:

Sole Practitioner (i.e., 1 prof.) 

$ 0

2 –5

$ 67

6 –10

$182

11 –19

$388

20 –49

$1048

50 –99

$3000

100+

$3750
Non-member Surcharge 25%
No A&A practice:

NYSSCPA member

$22

Non-NYSSCPA member

$28 (i.e. 25% more)
Cap (maximum due) $2250
First Time Enrollment Fee $50


 


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