Peer Review Services
What is a Peer Review?
The American Institute of Certified Public Accountants (AICPA) Peer Review Program requires that participating firms have a peer review conducted once every three years by an independent evaluator. The purpose of the peer review is to evaluate the CPA firm’s system of quality control for its accounting and auditing practice. The AICPA oversees the program, and the review is administered by an AICPA-approved qualified peer reviewer.
The Value is the Difference
KraftCPAs, recognized by the AICPA as a qualified peer reviewer, has more than 30 years of experience reviewing CPA firms across the country under the auspices of the National Peer Review Committee and numerous state societies. Whether we’re evaluating audit efficiency, your hiring process, or the adequacy of your CPE program, our peer review team is focused on adding value to the process.
Although the peer review process has become a mandate for participating firms, its value can far exceed the statutory requirements. While conducting a peer review, we also look for opportunities to help our client firms improve processes that may enhance their efficiency, realization, and staff recruitment and retention. We learn something every time we conduct a peer review, and we are happy to share our insights and big-picture perspective during the exit conference. It is this experience and perspective that makes a KraftCPAs peer review a valuable investment for your firm – not an expense.
Areas of Specialization
- Banking and financial institutions
- Brokers and dealers
- Employee benefit plans
- Nonprofit and government
- SOC 1, SOC2, and SOC3 examinations
Experienced Peer Review Team
KraftCPAs has a team of qualified peer reviewers with a wide range of diverse industry expertise, so we rarely need to co-source with other firms to get the job done. Our peer review team includes members (and the chair) of the Middle Tennessee Report Acceptance Body and a member of the Tennessee Society’s Peer Review Committee. Click on key contact names in the right sidebar for bios.
KraftCPAs is an independently owned member of the RSM US Alliance, giving us access to the nationwide and global resources of RSM. Additionally, KraftCPAs is a member of:
- AICPA Employee Benefit Plan Audit Quality Center
- AICPA Governmental Audit Quality Center
- AICPA Private Companies Practice Section