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Article: Peer review: Raising the bar for audit quality
- Article from:
- The CPA Journal
- Article date:
- July 1, 2002
- Author:
CopyrightCopyright New York State Society of Certified Public Accountants Jul 2002. Provided by ProQuest LLC. (Hide copyright information)
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Questions about the accounting profession's ability to regulate itself have motivated Congress and the SEC to consider proposals that would significantly transform the practice of public accountancy. Quality control of audits by the government is a part of both proposals, and we need to try to help regulators and legislators understand peer review, the profession's quality-control mechanism. If they are going to make changes, they need to understand what they are changing and avoid unintended consequences.
The AICPA has two national peer review programs, both designed to improve the accounting and auditing services firms offer the public. All AICPA members in public practice must belong to ...