The American Institute of CPAs (AICPA) requires member firms performing audits or reviews to get checked every three years.
A system peer review, an important process for CPA firms, is a review of a firm’s design of its system of quality control and the firm’s compliance with that system of quality control, based on the opinion of a certified, professional peer reviewer.
Quality Control: An outside CPA firm examines the reviewed firm's work and quality rules.
The Goal: It ensures the firm follows professional rules and adheres to high standards.
