Peer Review

Overview

Peer review is a periodic external review of a firm’s quality control system in accounting and auditing and is also known as the American Institute of Public Accountants' (AICPA) practice monitoring program. It's a statutory requirement in 55 licensing jurisdictions, including Florida, and is an AICPA member requirement. The AICPA requires its member firms to undergo a peer review every three years. AICPA members engaged in the practice of public accounting are required to practice in a firm that is enrolled in an approved practice-monitoring program such as the Peer Review Program.

The Florida Institute of CPA’s administers the AICPA Peer Review Program for both AICPA member and nonmember firms. The program is designed to be educational for firms in public accounting to further enhance the quality in their performance of accounting and auditing work. The program also allows for firms to communicate with their fellow peers on the objectives of the accounting profession.

Peer review results are confidential, unless the firm performs audits in accordance with Yellow Book standards. The following information is publicly available: firm’s name and addresses, program enrollment or termination, and the date of acceptance and period covered by the firm’s most recently accepted peer review

Resources

• AICPA Statement on Quality Management
• FICPA Peer Review Committee Response to Exposure Draft
• AICPA Peer Review Program Questions and Answers
• AICPA Reviewer Alert 
• AICPA Peer Review Integrated Management Application (PRIMA)
• Access PRIMA 
• Peer Review Program Fees

Peer Review Regulation

State of Florida Regulatory Peer Review Requirements: The Law, The Requirement, and Frequently Asked Questions (FAQs)

The FICPA Peer Review Committee oversees the FICPAs administration of the AICPAs Peer Review Program to ensure compliance with all AICPA program requirements.

Contact/Need Help

We welcome your questions, comments and feedback. Our goal is to help the reviewed firm and the reviewers have the smoothest possible progression through the peer review process. You may reach us at 800-342-3197 or 850-224-2727.

The Peer Review Program offers a PRIMA Help website that can be accessed from the Help link within PRIMA.

PRIMA Help: AICPA Support | 919-402-4502, ext. 2

PRsupport@aicpa.org