Successful organizations know the importance of learning from the past while, at the same time, looking forward. For the past 25 years, the AICPA Peer Review Program has helped firms do just that by evaluating firms’ accounting and auditing practices and providing them with opportunities for improvement through combined educational and remedial aspects.
The core value of the Peer Review Program is self-regulation. Aside from allowing CPAs to learn effective practice techniques from one another, self-regulation comes with many other benefits that positively affect firms, clients, the profession and the public, including:
- Monitoring adherence to the highest professional standards;
- Uncovering and helping to correct firm service deficiencies and inefficiencies; and
- Educating reviewed firms in professional standards and sharing best practices.