The purpose of this archived Governmental Audit Quality Center (GAQC) Web event is to provide you with information about the AICPA Peer Review Program and how the program is an important aspect of enhancing audit quality. Additionally, the event will provide information about some recent changes in the program in response to the federal study on single audit quality. Further, information is also be provided about how performing peer reviews can be beneficial to your audit practice. This archived Web event will likely be of primary interest to our CPA firm members since its focus is the AICPA Peer Review Program, which is not applicable to our state audit organization (SAO) members. However, SAOs that interact with or perform oversight of CPA firms may find this event to be beneficial.
The AICPA’s Peer Review Program is a key method for the profession to enhance the quality of accounting, auditing, and attestation services performed by members in public practice. This GAQC member Web event will inform you about recent changes to the Peer Review Program made in response to the federal study on single audit quality that you should know about for your firm’s upcoming peer reviews. Additionally, the presenters on this event are all very familiar with the AICPA program and will share their experiences of how performing peer reviews not only provides a way to “give back to the profession” but also adds value to a firm’s practice. After participating in this Web event you will:
About the Presenters
- Understand what to expect and how to prepare for your upcoming peer reviews, especially with regard to your single audits;
- Gain a high-level understanding of the quality control standards that your firm should be adhering to with respect to governmental auditing and the standards that govern the peer review process;
- Be reminded of the GAQC membership requirements relating to peer review;
- Learn the requirements to become a peer reviewer and the advantages to your firm of doing so; and
- Get ideas for marketing peer review services.
Corey Arvizu, CPA, is a partner in the Tucson office of Heinfeld, Meech & Co. and is the chairman of the GAQC Executive Committee. He currently manages audit services for municipalities, school districts, insurance funds, pension plans, and not-for-profit organizations (NPOs) in both Arizona and New Mexico. Corey is an approved team captain for the AICPA’s Peer Review Program and is a frequent speaker on various auditing and accounting topics.
Jim Brackens, CPA, is the AICPA’s Vice President for Firm Quality and Practice Monitoring where he provides strategic and tactical direction for the AICPA’s peer review programs, the GAQC, and and the Employee Benefit Plan Audit Quality Center. Prior to joining the Institute in December, 2006, Jim was associated with both international and local public accounting firms, including running his own firm in Richmond for seventeen years where he served closely-held businesses and NPOs and performed over 300 peer reviews. Jim has served in various volunteer leadership positions for both the AICPA and Virginia Society of CPAs, including Peer Review Committee Chair and Vice-Chair and member of the Board of Directors of the Virginia Society and as a member of the AICPA’s Professional Ethics Executive Committee.
Rick Reeder, CPA, is the owner of Reeder & Associates, PA a local CPA firm in Tampa, Florida. He has over 25 years of auditing experience including 10 years with International Accounting Firms. Rick's diverse range of clients includes NPOs, employee benefit plans, construction companies, and CIRA’s. He recently completed a 5-year term as a member of the AICPA Peer Review Board, serving as chair of that Board’s Education and Communication Task Force. Rick also served on the FICPA Peer Review Committee for 7 years, 2 years as chairman of the committee.
Archived Web Event Listening Instructions
You should print out and have available the AICPA Peer Review: What is Changing and How Being a Peer Reviewer Can Enhance Your Practice – Member Web Event Slides (PDF or PowerPoint).
The presenters addressed many of the questions within the time allotted for the event. We encourage you to visit the forum to post additional follow-up questions at GAQC Member Discussion Forum.
Thank you for your interest in this GAQC Event.
You can download the archived event for playing on your computer while offline or uploading to an MP3 player. To do so, right click on the following link and select "Save Target As" or "Save Link As." The download may take a while depending on your connection speed, so please be patient.
Download archived event to your computer or MP3 player