What is peer review?

              Conclusions
What is peer review?
Every CPA firm should comply with applicable quality control standards. A peer review adminis­tered by the AICPA Division for CPA Firms pro­vides reasonable assurance that the accounting and auditing work done by the firm is quality work—work that can be relied upon in making business, personal or financial decisions. In a broader sense, it shows that a profession which plays an important role in the country's business and financial life is serious about self-regulation and actively pursues the goal of quality work by its members.
The members of the Division for CPA Firms of the American Institute of Certified Public Accountants employ almost half of the CPAs in public practice in the country. They serve roughly 90 percent of the publicly-traded companies in the United States. They are willing to put their dedication to quality work to the challenge of a peer review every three years. Those who use financial statements and rely on a CPAs report reap the benefits of that dedication.
Prepared by Division for CPA Firms American Institute of Certified Public Accountants 1211 Avenue of the Americas New York, NY 10036-8775
© 1984 by the American Institute of Certified Public Accountants, Inc.
1 234567890 PR 8987654
"A peer
review of a member
firm, carried out by other CPAs under the auspices of AICPA, provides assurance that the firm has an appropriate quality control system for its accounting and auditing prac­tice and that it is complying with that system."
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Division for CPA Firms American Institute of Certified Public Accountants