Sample peer review press release

While the text should be changed to fit your firm's particular circumstances, we suggest you follow the format of the sample release. It's important to include "FOR IMMEDIATE RELEASE" and the name and phone number of the person to contact for more information or for an interview. The headline should mention the name of your firm and that your firm has successfully completed a peer review. Be sure to double-space the news release to facilitate editing.

If you decide to edit the release, we encourage you to provide a general description of procedures performed on system reviews rather than the exact scope of your review, the particular working papers prepared, or the specific types of engagements selected.

Send your release to newspapers circulating in the areas in which your firm maintains offices or has clients. For daily papers, address the release to the business editor. For weeklies or semiweeklies, address it to the editor.

Sample news release for system reviews

Below is a sample news release which may be used to announce the results of your system review in local newspapers. If this press release or the sample letter to clients is used, you should make the report available to those who request it.

(FIRM LETTERHEAD)
FOR IMMEDIATE RELEASE
CONTACT: J. Doe
(123) 456 7890

(CPA FIRM NAME) HAS SUCCESSFUL REVIEW BY PEERS

City, State, Date -- (CPA FIRM NAME) announced today that it has successfully completed a rigorous peer review of its accounting and auditing practice. The reviewer(s) concluded that the firm’s system of quality control for the accounting and auditing practice in effect for the year ended [peer review year-end], has been suitably designed and complied with to provide reasonable assurance of performing and reporting in conformity with applicable professional standards in all material respects.

(CPA FIRM NAME) participates in the Peer Review Program, a practice monitoring program approved by the American Institute of Certified Public Accountants (AICPA), the national professional organization of CPAs. A firm participating in the Peer Review Program must have an independent review of its accounting and auditing practice every three years. The review was conducted under the auspices of the (name of administering entity) following standards issued by the AICPA.

The peer review of (CPA FIRM NAME) was performed by [a licensed, independent CPA] [a team of licensed, independent CPAs] [another independent CPA firm] who qualified under the program's requirements for service as a reviewer.

Its peer review rating of pass indicates (CPA FIRM NAME) meets the accounting profession's high standards of quality and professionalism. If requested, the firm will provide a copy of the report on the results of the review to all interested parties although not required to do so.

(CPA FIRM NAME) serves [identify types of clients, such as businesses, individuals, and nonprofit organizations] throughout the ________________ area. The firm provides a full range of [audit, accounting, tax, consulting] services and specializes in ________________.

The American Institute of Certified Public Accountants (www.aicpa.org) is the national, professional association of CPAs, with more than 360,000 members in business and industry, public practice, government, education, student affiliates, and international associates. It sets ethical standards for the profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination.

The AICPA maintains offices in New York; Washington, D.C.; Durham, N.C.; Ewing, N.J.; and Lewisville, Texas.


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