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Article: Peer review: an annual process.(peer review program of the American Institute of Certified Public Accountants)
- Article from:
- The National Public Accountant
- Article date:
- March 1, 1999
- Author:
CopyrightCOPYRIGHT 1999 National Society of 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)
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The purpose of this article is to:
1. Provide an overview of the peer review process;
2. Remind practioners that peer review is an annual requirement; and,
3. Encourage the use of the NSA Peer Review Program as either a primary or supplemental system.
Overview
In January 1988 the American Institute of Certified Public Accountants [AICPA] voted overwhelmingly to adopt a self-regulatory approach to the maintenance of professional standards by imposing a system of mandatory practice monitoring programs on those of its membership involved with:
1. Auditing (the examination of financial statements) and/or