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Article: For off-site peer review, Pennsylvania cutting costs. (off-site peer review program of Pennsylvania Institute of CPAs)
- Article from:
- The Practical Accountant
- Article date:
- January 1, 1997
- Author:
CopyrightCOPYRIGHT 1997 SourceMedia, Inc. 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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Peer review may be better than government oversight of quality standards in accounting, but to many small firms, even the relatively inexpensive off-site reviews take up too much time and money.
That's why some state societies have come to sponsor off-site programs that are designed to provide streamlined and less costly peer reviews for firms that don't do audits. "I think we've lowered the price in the market overall," said Frank Bochanski, manager of the Peer Review Division of the Pennsylvania Institute of CPAs.
In its second year of sponsoring its off-site peer review program, the PICPA has already served about 200 accounting firms and cut their average ...