|
|
Article: Raising the bar: the AICPA Peer Review Program moves toward more transparency.(PEER REVIEW)(American Institute of Certified Public Accountants )
- Article from:
- California CPA
- Article date:
- January 1, 2005
CopyrightCOPYRIGHT 2005 California Society of Certified Public Accountants. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Since 1977, more than 50,000 CPA firms have undergone more than 160,000 peer reviews thanks to the AICPA Peer Review Program resulting in reports that provide insight into participating firms' stated quality standards and how they put those standards into practice in the conduct of their attest engagements.
In a 1987 referendum, which took effect in January 1988, AICPA members voted to make peer review mandatory under a system that kept the results of the reviews confidential. The approved member ballot essentially required a member with an accounting or auditing practice to practice in a firm enrolled in a peer review program.
Over the years, peer ...