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Article: The march toward public disclosure of peer review.(Legislative & Regulatory)
- Article from:
- Leader's Edge
- Article date:
- November 1, 2005
CopyrightCOPYRIGHT 2005 Michigan Association of CPAs. 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)
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In 1988, AICPA members voted to make peer review mandatory, but to keep the results confidential. Since then, there has been a steady march toward lifting the veil of confidentiality and making peer review results public.
Today, for example, all member firms of the Institute's audit quality centers and the Private Companies Practice Section (PCPS) post their peer review reports on the AICPA web site, accessible to anyone who wants to view them. In fact, of the approximately 16,000 firms that perform audits, about 11,000 currently make some aspects of their peer review results available outside their firm, whether its through membership in one of the above centers ...