Statements of Position



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The AICPA Peer Review Board's (Board) 1998 Strategic Plan included a reevaluation and enhancement of the AICPA Peer Review Program (Program). As a result, two years ago, the Board completed Phase I of a two phase project to reevaluate and enhance the Program. Phase I related to off-site reviews, which led to new standards developed for engagement and report reviews, and were effective for peer reviews commencing on or after January 1, 2001. Phase II began in October 2001 with the Board forming the System Review Task Force (Task Force). The Task Force was formed with the purpose of reevaluating the administration, performance, reporting, objectives and overall effectiveness of system reviews conducted under the Program. The Task Force considered many factors in its reevaluation, including the changing regulatory and practice influences in the SEC and non-SEC environments. The Task Force also solicited input from many different parties involved in the peer review process, including CPA firms and users of peer review results. After concluding its reevaluation, the Task Force made numerous recommendations to the Board to enhance the Program. The Board agreed with the Task Force's recommendations and also proposed others, including revisions to engagement and report reviews. As a result, the Board has issued this exposure draft which proposes revisions to the AICPA Standards for Performing and Reporting on Peer Reviews (Standards). AICPA, Professional Standards, vol. 2 PR Section 100.



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Accounting -- Quality control; Accountants -- Rating of -- United States; Peer review -- Standards


Accounting | Taxation


Originally published by: American Institute of Certified Public Accountants; Copyright and permission to reprint held by: American Institute of Certified Public Accountants; Exposure draft (American Institute of Certified Public Accountants), 2003, May 30

Proposed revisions to the AICPA standards for performing and reporting on peer reviews;AICPA standards for performing and reporting on peer reviews



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