For the Public
For the Public
The Peer Review Program is an educational program designed to help your firm improve the quality of your accounting and auditing practice. As an administering entity for the American Institute of Certified Public Accountants' (AICPA) Peer Review Program, the FICPA serves as a resource by helping your firm schedule a review with a qualified peer reviewer and finalizing your peer review through the committee acceptance process. As a fully involved entity in the administration of the AICPA Peer Review Program, the Florida State Board of Accountancy has approved the FICPA as an acceptable administering entity for Florida.
Peer Review Information for the Public - FAQs
Peer review is a systemic evaluation of a sole practitioner's or CPA firm's (hereinafter referred to as "firm") system of quality control over its accounting and auditing practice. It focuses on monitoring individuals' and firms' conformity with professional standards and is one of the self-regulatory tools used by the profession to protect the CPA hallmark and the public interest.
Peer review does not cover tax, consulting, investment advisory or other services.
Firms participate in peer review in order to meet individual membership requirements of the American Institute of Certified Public Accountants (AICPA), state licensing requirements as well as Government Auditing Standards (i.e., the "Yellow Book") if the firm performs engagements subject to Government Auditing Standards.
Firms that perform audits and/or examinations level attestation engagements must undergo a system review. Firms that perform reviews or compilations are eligible for an engagement review but may opt to have a system review.
In a system review, the peer reviewer tests all elements of the firm's quality control system (Leadership Responsibilities for Quality Within the Firm, Relevant Ethical Requirements, Acceptance and Continuance of Client Relationships and Specific Engagements, Human Resources, Engagement Performance and Monitoring), including a representative sample of the firm's engagements, and issues an opinion regarding the design of and firm's compliance with its quality control system. Findings, if any, are written from a system perspective and may include reviewer recommendations and a firm response.
In an engagement review, the peer reviewer tests a limited number of engagements based on specific selection guidelines and reports all noted departures from professional standards. Findings, if any, are written from an engagement perspective and may include reviewer recommendations and a firm response.
Yes and no. Firms and sole practitioners may be required to allow their peer review results to be posted to the AICPA's Peer Review Public File as a condition of membership in the Center for Audit Quality (CAQ), Governmental Audit Quality Center (GAQC), Employee Benefit Plan Audit Quality Center (EBPAQC), and/or Private Companies Practice Section (PCPS). Additionally, firms and sole practitioners may elect to voluntarily allow their results to be shared within this database. The peer review results of firms and sole practitioners that are not members of the above or do not elect to share their results remain confidential.
However, the following general information is available for all AICPA member firms and sole practitioners in the Firm Search section of the AICPA's Public File:
- The firm’s name and address(es).
- The fact that the firm is enrolled in the AICPA Peer Review Program.
- The date of acceptance and the period covered by the firm’s most recently accepted peer review.
- Whether the firm’s enrollment in the program was terminated or dropped.
You may also search the Public File by city or state, to obtain a list of all enrolled firms in that particular city or state.
More information related to the peer review program can be found on the AICPA's Peer Review website.
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.
Paul Brown
Vice President, Professional and Technical Services
Paul@ficpa.org
850-521-5957
Ethics & Licensing
Kathy Creel
Peer Review Manager
Kathy@ficpa.org
850-521-5959
Extensions, Firm Changes & Enrollments
Chika Okoro
Peer Review Coordinator
Chikao@ficpa.org
850-521-5958
Scheduling
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, press 2
PRsupport@aicpa.org