Peer Review Program Manual

Peer Review Program Manual (PRPM) 


NEW:  PRPM to remain on Peer Review website, including Team/Review Captain Packages.


To improve audit quality, make the peer review process more efficient and address feedback, the PRPM, including Team/Review Captain Packages, will remain on the peer review website available for download to AICPA members, with some content available to the public (Standards, Interpretations, etc.) The content includes:

Engagement checklists,
Supplemental checklists,
Profiles,
Team/Review Captain Package zip files, and
Practice Management Toolkits

 

These materials will also be maintained on the AICPA's Online Professional Library (OPL) for subscribers. Those subscribers will have ability to:

Search the PRPM,
Add bookmarks and research notes, and
Link to references in guidance within their other OPL subscriptions

 

Single user and discounted multi-user subscriptions are available for purchase. Multi-user subscriptions are based on the number of concurrent users, i.e. how many firm employees will need access to OPL during the same time frame. For further information, see here, under "multi-user subscription." 

 

Both resources will be kept up to-date. For updates, continue to monitor Reviewer Alerts. Also see Q&A on PRPM in OPL. 



Background:
 The Peer Review Program Manual (PRPM) is developed by the AICPA Peer Review Board and provides you with up-to-date standards, policies, procedures, checklists and programs to use when arranging, administering or carrying out a peer review.

Adobe Acrobat: The Peer Review checklists have been developed using the latest version of Adobe Acrobat.
Get the latest version of Adobe Acrobat Reader to ensure compatibility.

What's New? To keep it current, the PRPM is periodically updated with new or revised checklists and other materials due to changes in technical and professional standards, policies or procedures.

Monitor monthly emailed
Reviewer Alerts, especially the "What's New in the Peer Review Program Manual (PRPM)" article, for details on updates to the PRPM.

PRPM and Other Updates Effective on a Future Date: 
Numerous significant changes from the Improving Transparency and Effectiveness of Peer Review Exposure Draft will be effective for reviews commencing January 1, 2017 or later. They will be incorporated into the PRPM in late December 2016. Please consult the May 3, 2016 open session Agenda 1.2 materials for further information. Additional communications regarding the changes and training for reviewers will be provided over the next few months.

New checklists Available for Early Implementation
One of the changes effective for reviews commencing January 1, 2017 or later is the replacement of PRPM Sections 4500 and 4600 "Guidelines for Review of Quality Control Policies and Procedures" and the existing 4700 "Staff Interview Form," with new checklists. The new checklists available for early implementation are:

  Guidelines for Review of Quality Control Policies and Policies for a Sole Practitioner with No Personnel
  Guidelines for Testing Compliance with Quality Control Policies and Procedures for a Sole Practitioner with No Personnel
  Guidelines for Review of Quality Control Policies and Procedures for Firms with Two or More Personnel
  Guidelines for Testing Compliance with Quality Control Policies and Procedures for Firms with Two or More Personnel
  Staff Interview Questionnaire


Sections Available to the Public
Section
Number

Month Last Modified
(Effective First of
Subsequent Month)
 


Section Title
1000  6/2016 (prev. 5/2016)   Peer Review Standards
2000 8//2016 (prev. 6/2016) Peer Review Standards Interpretations
3100 5/2015 Supplemental Guidance
3300 7/2016 (prev. 6/2016) Report Acceptance Body (RAB) Handbook
3600 4/2014 Guidance for Writing Letters on Corrective Actions
4100 5/2015   Instructions to Firms Having a System Review
4300 5/2015   Quality Control Policies and Procedures Documentation Questionnaire for a Sole Practitioner with No Personnel  (Note: This checklist will be eliminated effective January 1, 2017. Firms should use other resources to document their systems of quality control.)
4400 5/2015   Quality Control Policies and Procedures Documentation Questionnaire for Firms with Two or More Personnel (Note: This checklist will be eliminated effective January 1, 2017. Firms should use other resources to document their systems of quality control.)
 6100  5/2015   Instructions for Firms Having an Engagement Review
 7100  1/2015   Guidance for Association Involvement
 8100  1/2013   Instructions to Providers Having a Quality Control Materials (QCM) Review
 10,000  5/2015   Monitoring Guidance
       
       
Team and Review Captain Checklists (AICPA Members Only)
       

Team Captain
Checklist
Webpage

 

Download Checklists, Questionnaires, Profiles and other Related Material to Perform System Reviews.

Review Captain 
Checklist Webpage
 

 

Download Checklists, Profiles and other Related Material to Perform Engagement Reviews.

Practice Management
Toolkit Webpage

 

Download additional tools to perform reviews from the Practice Management Toolkits. 

Zip File 

  Download all zip files for the Team Captain and Review Captain Checklists, Engagement Profiles and Practice Management Toolkits.

 

     
Archives
 
2015 Peer Review Manual
- EFFECTIVE May 1, 2015
2014 Peer Review Manual - EFFECTIVE April 1, 2014
2013 Peer Review Manual - EFFECTIVE March 1, 2013
2013 Peer Review Manual - EFFECTIVE January 1, 2013
Copyright © 2006-2016 American Institute of CPAs.