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  • Peer Review Program Change Form - Aicpa - Aicpa

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This form can also be found on our website at AICPA.org. . The Peer Review Program only applies to the accounting and auditing (A&A) portion of a firm's .

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How to fill out the PEER REVIEW PROGRAM CHANGE FORM - AICPA online

This guide provides a detailed overview of how to accurately fill out the PEER REVIEW PROGRAM CHANGE FORM - AICPA. It aims to support users in navigating the form with clear instructions across its various sections, ensuring all necessary information is provided.

Follow the steps to complete the form effectively.

  1. Use the ‘Get Form’ button to access the PEER REVIEW PROGRAM CHANGE FORM and open it in your document editor.
  2. Begin by reading the 'Description of Changes' section to determine which part of the form aligns with your firm’s current situation.
  3. Complete the relevant fields for your specific employment changes. Ensure you print or type the details clearly, as this will aid in processing.
  4. If contributing to a firm name change, fill in the relevant information, noting reasons for the change as applicable.
  5. In the firm dissolution or ownership change section, carefully document the effective date and provide details regarding any resulting firms.
  6. For mergers, indicate the percentage of A&A hours from each firm contributing to the new entity, ensuring the total equals 100%.
  7. If purchasing a firm, provide the effective date of purchase and detailed information regarding the purchased and purchasing firms, ensuring the total A&A hours also sum to 100%.
  8. Complete the firm sale section if applicable, indicating the effective date and relevant details about both the sold and purchasing firms.
  9. Once all sections are completed, review the form for accuracy and clarity before submitting it via email, fax, or mail to your administering entity.
  10. Finalize by saving changes made to the document, and consider downloading or printing a copy for your records.

Submit your completed PEER REVIEW PROGRAM CHANGE FORM online for prompt processing.

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Therefore, the firm is required to enroll in the American Institute of Certified Public Accountants (AICPA) Peer Review Program and firms that perform engagements under PCAOB standards are required to have their peer review administered by the National Peer Review Committee.

By enrolling, a firm agrees to have a peer review of its accounting and auditing practice once every three years subsequent to its initial peer review. A firm's initial review is ordinarily due 18 months from the date it enrolled (or should have enrolled) in the Program.

A firm must be peer reviewed if it does audits, reviews, compilations, and any "special reports" that purport to express an opinion that the financial statements or any material portion thereof are in ance with GAAP and the CPA firm did its engagement in ance with the Statement on Auditing Standards (SAS) ...

Firms (and individuals) enrolled in the AICPA Peer Review Program (the program) are required to have a peer review, of their accounting and auditing practice once every three years ing to the AICPA Standards for Performing and Reporting on Peer Reviews, Effective for Peer Reviews Commencing on or After May 1, ...

Due to its informal nature, the CPA performing a compilation is not required to be independent of your business. This means your current CPA can also perform your compilation for you.

PEER REVIEW MANDATE – ROLL OUT Recently, the Council of ICAI has mandated Peer Review mechanism for certain categories of firms rendering assurance services to specific class of entities, which will go a long way in enhancing the audit quality.

If a firm elects to enroll in the peer review program, and its only level of service is performing management use only compilation engagements, it is required to have a peer review. The peer review is required to be performed under these standards.

If a firm performs preparation engagements as its highest level of service, the firm is not required to enroll in the peer review program. However, if the firm chooses to be enrolled in the peer review program, a peer review is required even if preparation engagements are the only engagements performed.

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