Peer Review

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Peer ReviewThe American Institute of Certified Public Accountants (AICPA) requires its member firms to undergo a peer review every three years. A peer review is a periodic external review of a firm's quality control system in accounting and auditing and is also known as the AICPA's practice monitoring program.  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 members firms and non-AICPA member 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 Regulation

 

Enrollment Requirements

 

As stated above, enrollment in the Peer Review Program is a requirement for membership with the AICPA.  The only exception to this requirement would be for firms who do not perform audits, reviews, compilations and/or attest service engagements.  In Florida, if your firm is not a member of the AICPA, enrollment in the Peer Review Program is optional.  At the current time neither the Florida State Board of Accountancy nor the Florida Institute of CPAs requires peer review. If your firm would like to enroll in either the AICPA or the FICPA Peer Review program, please click on the correlating link here to access, complete and send either form to the FICPA. You will also be prompted to save a copy of the form for your firm.

AICPA Peer Review Program Enrollment Form

FICPA Peer Review Program Enrollment Form

Firm Structure Changes

 

If your firm has gone through or is currently experiencing a dissolution, merger, purchase, sale or name change, please complete the applicable pages of the form. This form may also be used to update AICPA / FICPA records if an AICPA member has changed employers. Please send the completed form by email, fax or hard copy to the FICPA.

AICPA Peer Review Program Change Form

Additional Information

 

Additional Information is available within the AICPA's Peer Review Q's & A's (updated 2013). Please click on the following link to access this:

AICPA's Peer Review Q's & A's (January 2013)

Annual Report on Oversight

 

The Florida Institute of CPAs (FICPA) Peer Review Committee has instituted a regular oversight program of team captains/reviewers (hereinafter referred to as “reviewers”) and firms in order to ensure the consistency and quality of reviewers’ work in Florida. All reviewers and firms are subject to this program.

2012 FICPA Annual Report on Oversight

2011 FICPA Annual Report on Oversight

2010 FICPA Annual Report on Oversight

How to reach us

 

Our goal is to help the reviewed firm and the reviewers have the smoothest possible progression through the peer review process.  If at any time you have questions or concerns please contact one of the staff members listed below.  We will do our best to answer your questions in the quickest most informative way possible.  You may reach us at (800) 342-3197 or (850) 224-2727.

Director of Technical Services

 

Paul Brown, CPA
brownp@ficpa.org
Ext. 251

Peer Review Manager

 

Barbara Bennett
bennettb@ficpa.org
Ext. 250

Scheduling Coordinator

 

Kathy Creel
creelk@ficpa.org
Ext. 252