Peer review sets certified public accountants apart from other professions and tells the public that CPAs are dedicated to upholding the standards of our profession.
The AICPA requires members who do audits, reviews or compilations to have a peer review every three years. Maryland requires individuals to report the final acceptance date of their most recent peer review with the first license renewal on or after Oct. 1, 2008. The final acceptance of the most recent peer review cannot be older than three years from the date of license renewal.
Peer Review Resources for Firms:
- AICPA Peer Review Resources
- Maryland Peer Review Annual Report on Oversight
- Peer Review Mentoring Program
- Do you have what it takes to be a peer reviewer?
- MACPA's Peer Review Committee
- AICPA white paper: Navigating Through the Revised Standards Effective Jan. 1, 2009
How do I learn more about peer review?
For more information on the AICPA Peer Review Program administered by MACPA, contact Mary Beth Halpern at 443.632.2330 or Marybeth@macpa.org. You also may visit www.aicpa.org, e-mail the AICPA peer review staff at PeerReviewupdates@aicpa.org or call 919.402.4502.
Important Links for Firms Undergoing Review
- Steps for non-AICPA firms to enroll in the MACPA's Peer Review Program
- Fee structure
- List of peer reviewers
- FAQs about AICPA program
- Common deficiencies
- Promote your System Peer Review "Pass" Report
- Tips for selecting your peer reviewer
- INFORMATION REQUIRED FOR SCHEDULING REVIEWS
- Extension requests
- Other AICPA materials
- Enrollment form for an AICPA member
- Enrollment form for a non-AICPA member
- Change, firm structure form