Peer Review Update 

    This communication is a combination of either Peer Review Alerts, Reviewer Focuses or an update on Peer Review matters.
    Issue Date   Topics
    November Peer Review Update 14-06 Peer Review Alert
    • Revisions to Consecutive Non-Passing Report Guidance
    • Exposure Draft: Preparation of Financial Statements Performed Under SSARS and the Impact on the Scope of Peer Review
    • Exposure Draft: Peer Reviewer Performance, Disagreements and Qualifications
      November Reviewer Focus
    • Evaluation of Population Completeness
    • Replacement Reviews
    • Independence Alert
    October Peer Review Update 14-05 Peer Review Alert
    • Revisions to Noncooperation and Recall Guidance
    • Firm and Individual Licenses
      October Reviewer Focus
    • Reminder: Enhancing Audit Quality (EAQ) Discussion Paper Comments Due November 7, 2014
    • System of Quality Control Practice Aids - Available for Free Download
    • Standards Tracker - Quick Reference to Professional Standards Changes
    • Online MFC Forms - Complete on Firm's Behalf
    • Peer Reviews of Firms that Audit Broker-Dealers, Including Non-Carrying Broker-Dealers
    • Save the Date for upcoming webinar on November 17, 2014: Sufficiency of Audit Evidence - a Peer Review Focus
    August Peer Review Update 14-04 Peer Review Alert
    • Peer Review Exposure Draft on new SSARS Services
    • Revision to Peer Review Guidance for Engagement Reviews
      August Reviewer Focus
    • Replacement Review Considerations When Peer Review Documents are Recalled (Impact to reviewer independence, consideration of prior FFCs and deficiencies, identification of repeats, consecutive pass with deficiencies or fail reports)
    • Instructions to search the Department of Labor's EFAST2 website
    • Tool Available to Assist Reviewers in Complying with Enhanced Guidance on Quality Control Materials (QCM) Used by a Reviewed Firm
    • AICPA Releases Enhancing Audit Quality (EAQ) Discussion Paper
    June Peer Review Update 14-03 Peer Review Alert
    • Revisions to Recall Guidance
      June Reviewer Focus
    • Replacement Review Considerations When a Peer Review Documents are Recalled (Impact to reviewer independence, engagements performed under Government Auditing Standards and the firm's system of quality control)
    • Save the Date - Upcoming Webcasts and Conferences
    May Peer Review Update 14-02 Peer Review Alert
    • Exposure Draft: Engagement Reviews - Pass with Deficiencies vs. Fail
    • Enhancing Audit Quality - Emerging Industries and Risk Areas
    • Revisioning the Oversight Process
      May Reviewer Focus
    • Enhancing Quality - What Can You Be Doing Now?
    • Firm Representations
    • Updates to SEC and CFTC Regulations and Related Audit and Attestation Reports of Brokers and Dealers and Futures Commission Merchants, Including Those That Are Dually-Registered
    • Examples of Peer Review Matters
    • Online MFC Updates
    • Save The Dates - Upcoming Webcast and Conference
    February Peer Review Update 14-01 Peer Review Alert
    • Coordination of Peer Review & PCAOB Inspection
    • Noncooperation Revisions - Completeness of Peer Review Scope
      February Reviewer Focus
    • Common Matters Identified During Peer Review
    • SRM Statistics When Audits are Incomplete
    • Save the Date - 2014 Peer Review Conference
    October Peer Review Update 13-04 Peer Review Alert
    • 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
      October Reviewer Focus
    • Updated Peer Review Checklists
    • Online MFC Updates
    • 2013 Annual Report on Oversight
    • Save the Dates - Upcoming Rebroadcasts of Webcasts
    August Peer Review Update 13-03 Peer Review Alert
    • Firm Responsibilities and Reviewer and RAB Responses Related to Non-Conforming Engagements
    • Joining an Audit Quality Center as Corrective Action
      August Reviewer Focus
    • Auditors of Broker-Dealers
    • 2011 Yellow Book Independence Resources and Related Peer Review Guidance
    • Impact of Nonconforming Engagements on Peer Review Reports
    • Group Audits
    • Employee Stock Ownership Plans
    • Online MFC Tips & Tricks
    July Peer Review Update
    • Online MFC and DFMC forms - How to tell if the reviewed firm is an AICPA Member firm

    May Peer Review Update
    (Including 13-02 Peer Review Alert and May Reviewer Focus)
    13-02 Peer Review Alert
    • 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

    May Reviewer Focus
    • Reminder on Clarity Article from 13-01 Peer Review Alert
    • Changes in Peer Review Education Requirements

    February Peer Review Update
    (Including 13-01 Peer Review Alert and February Reviewer Focus)
    13-01 Peer Review Alert
    • 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
    February Reviewer Focus
    • Guidance for 2011 Yellow Book
    • Professional Skepticism on All Audits
    • Peer Review Program Manual Update
    • Save the Dates - Upcoming Web Events and Conference
    November Peer Review Update
    • Changes to the Electronic MFC Process

    October Peer Review Update
    (Including 12-04 Peer Review Alert and October Reviewer Focus)
    12-04 Peer Review Alert
    • Non-Conforming A-133 Engagements
    • Approval of Revisions Proposed in Peer Review Exposure Draft
    • SOC Engagements

    October Reviewer Focus
    • Revisions to PRP 20,700 - Employee Benefit Plan Audit Engagement Checklist
    • Reminder - Register for the Clarity Webinar
    • Clarification of the Review of Compliance Audits during Peer Review
    • Reviewer Experience Regarding Single Audit Engagements
    • Peer Reviewer Considerations of Low-Risk Auditee Status

    August Peer Review Update
    (Including 12-03 Peer Review alert and August Reviewer Focus)
    12-03 Peer Review Alert
    • Recall of Peer Review Documents
    • Changes to the System Peer Review Report and Standards Appendix A

    August Reviewer Focus
    • Register for the Clarity Webinar
    • Reviewer Resume Website Changes

    May Peer Review Update
    (Including 12-01 Peer Review Alert and May Reviewer Focus)
    12-01 Peer Review Alert
    • 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

    May Reviewer Focus
    • Peer Review Checklists
    • Ideas for 2012 National Peer Review Conference Topics
    • Call for Volunteers

    Peer Review Update
    • Information on Electronic MFC and DMFC Forms
     Archived Peer Review Updates

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