Peer Review Alert 


    The Peer Review Board issues an Alert each time the Board needs to communicate information in regard to peer review Standards and guidance. Annually, the Board will evaluate articles to excerpt and incorporate into the Standards and related guidance. Articles that are transitional, are not appropriate to be incorporated into the Standards and guidance, or both, will remain in PRP Section 3200, Peer Review Alerts.
         
    Issue Date Alert No. Topics
     June 2014
    (Included in the June Peer Review Update)
     14-03
    • Revisions to Recall Guidance
         
     May 2014
    (Included in the May Peer Review Update)
    14-02
    • Exposure Draft: Engagement Reviews - Pass with Deficiencies vs. Fail
    • Enhancing Audit Quality - Emerging Industries and Risk Areas
    • Revisioning the Oversight Process
         
     February 2014
    (Included in the February Peer Review Update)
    14-01 
    • Coordination of Peer Review and PCAOB Inspection
    • Noncooperation Revisions - Completeness of Peer Review Scope
     
    October 2013
    (Included in the October Peer Review Update)
    13-04 
    • Enhanced Guidance on Understanding the Adequacy of Quality Control Material (QCM) Used by a Reviewed Firm
    • Clarifying Changes to Quality Control Policies & Procedures Documentation
    • Enhanced Guidance on Quality Control Material (QCM) Review Reports and Performing QCM Reviews
         
    August 2013
    (Included in the August Peer Review Update)
    13-03 
    • Firm Responsibilities and Reviewer and RAB Responses Related to Non-Conforming Engagements
    • Joining an Audit Quality Center as a Corrective Action
         
    May 2013 
    (Included in the May Peer Review Update)
    13-02 
    • Evaluating Compliance with the 2011 Yellow Book Independence Requirement Related to Nonaudit Services
    • Engagement Reviews - Areas of Common Noncompliance with Applicable Professional Standards
    • Reviewer Performance Revisions
         

    February 2013 
    (Included in the February Peer Review Update)

    13-01

    • Matter for Further Consideration (MFC) Forms Guidance
    • Considering the Results of Regulatory and/or Governmental Oversights
    • Clarified Auditing Standards
    • Revisions to Natural Disaster & Other Catastrophic Events Guidance
     
    October 2012
    (Included in the October Peer Review Update)
    12-04
    • Non-Conforming A-133 Engagements
    • Approval of Revisions Proposed in Peer Review Exposure Draft
    • SOC Engagements
         
    August 2012
    (Included in the August Peer Review Update)
    12-03
    • Recall of Peer Review Documents
    • Changes to the System Peer Review Report and Standards Appendix A
         
    June 2012 12-02
    • Peer Review Exposure Draft and How it Might Impact You
         
    May 2012
    (Included in the May Peer Review Update)
    12-01
    • Removal of Interpretation 33-2 (Team Captain Rotation)
    • Revision to Section 6200 Appendix E, Areas of Common Noncompliance With Applicable Professional Standards
    • Revisions to MFC and DMFC Forms

    Archived Peer Review Alerts
         



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