Peer Review Overview

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

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.