Reviewer Alert 



This communication is designed to focus your attention on current issues to assist you in more effectively performing your peer reviews and enhancing the quality of the work performed by your peer review clients. The information contained herein has not been approved by the AICPA Peer Review Board and thus does not constitute "other guidance" as defined in the AICPA Standards for Performing and Reporting on Peer Reviews.

Month/2017 Topics
   

January

  • Peer Review Implications for Firms Reporting on Tribal Entity Financial Statements
  • Reminder: Allowing Firms with No AICPA Members to Enroll in the AICPA Peer Review Program Guidance Changes Effective This Spring
  • Free PRIMA Training and PRISM Downtime
   

February 

 
  • What's New in the Peer Review Program Manual (PRPM) - February 2017 Update
  • Which Version of the PRPM Guidance & Practice Aids Should I Use?
  • SSARS No. 23 Omnibus Statement on Standards for Accounting and Review Services - 2016
  • Impact of PRIMA Transition on Peer Reviews in Process
   

March

  • What's New in the Peer Review Program Manual (PRPM) -  March 2017 Update
  • PRIMA Deadline Reminder
  • Save the Dates - Upcoming Peer Review Events
   

April

  • What's New in the Peer Review Program Manual (PRPM) - April 2017 Update
  • Not Documented, Not Done: Additional Guidance
  • Free Audit Documentation Resources Available for Auditors
  • Limited Review of Engagements in a System Review
  • Population Completeness: Employee Benefit Plan (EBP) Audits
  • PRISM Goes Offline April 20, 2017 and PRIMA Launches May 1, 2017
  • Save the Dates - Upcoming Peer Review Events
   

May

  • Enhanced Oversight Findings
  • Enhanced Oversight Sample Selection
  • How a TC Should Address the SRM Quality Control Planning Question 
  • Reviewer Resumes and Reviewers with FDICIA Experience
  • Archived Peer Reviewer Q&A Webcast
  • Save the Date – Upcoming Peer Review Event
   

 June

  • What’s New in the Peer Review Program Manual (PRPM) – June 2017 Update
  • Yellow Book Exposure Draft Released!
  • Governmental and Single Audit CPE Opportunities 
  • Considerations for Audits of Broker Dealers
  • Archived Peer Reviewer Q&A Webcast
  • Save the Date – Upcoming Peer Review Events
   
 

July

  • Update on Quality Control Materials (QCM) Reports Used in Peer Reviews
  • Firm Delays in Submitting the Letter of Responses to the Team or Review Captain
  • References to the Statements on Quality Control Standards in Findings, Deficiencies and Significant Deficiencies
  • August Peer Review Board Considerations – Annual Peer Review Information Form (PRIF)
  • Social Media Memes for Raising Awareness of the #1 Audit Quality Issue
  • Focus on Engagements Subject to Government Auditing Standards and Single Audit Requirement
   

July Governmental

  • Nonaudit Services Documentation and Independence FAQs
  • Single Audit Major Program Determination
  • Schedule of Expenditures of Federal Awards (SEFA)
  • Internal Control over Compliance Requirements
  • Sampling: Internal Control over Compliance and Compliance Testing
  • Corrective Action Plans (CAP) and Summary Schedule of Prior Audit Findings (SSPAF)
  • Additional Resources for Reviewers and Auditors
   

 August

  • Common Errors: Peer Review Report and Firm Representation Letter
  • PRIMA Resources
  • Web page on aicpa.org
  • Viewing the Status of Your Review(s) in PRIMA
  • Reviewing the Firm’s Peer Review Information (PRI) form in PRIMA during Scheduling of the Peer Review
  • How to Email or Share Knowledge Base Articles
  • New! Knowledge Base Articles Added to PRIMA Pages
  • Enhanced Oversights Study Identifies Factors Driving Audit Quality
  • Join a Free Webcast on 9/21 to Give Your Feedback on the IAASB
    revisions to ISQC 1 
   

 September

  • What’s New in the Peer Review Program Manual (PRPM) – September 2017 Update
  • PRIMA Update and Training Sessions
  • Upcoming A&A Standard Pronouncements
  • Final 2017 Compliance Supplement
  • Updated Uniform Guidance Frequently Asked Questions Document
  • Technical Reviewer Revisions Requests Process
  • Special Alert from the Peer Review Conference

 
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