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Changes to peer review program.

The AICPA is accepting comments on a new concept paper, Evolving the CPA Profession's Peer Review Program for the Future, which explains how the existing peer review program could be transformed into a technology-driven, near-real time process.

Some ideas in the paper to improve peer reviews include:

* Firms continuous review of accounting, auditing and attestation engagements and systems, with quality issues being detected and corrected in near real-time, instead of after the fact;

* Near real-time firm inspections based on performance;

* Greater consistency among peer review performance and conclusions; and

* Transparency of review results to stakeholders

Learn more at community.aicpa.org/future-practice-monitoring/default.aspx.

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Title Annotation:AICPA Concept Paper; American Institute of Certified Public Accountants
Publication:California CPA
Article Type:Brief article
Geographic Code:1U9CA
Date:Jan 1, 2015
Words:104
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