Today's business environment is increasingly complex and fast-paced. The paper titled "Evolving the CPA Profession’s Peer Review Program for the Future: A provocative vision of what practice monitoring could become," released on December 15, 2014, puts forth a Concept that would transform peer review. Marrying human oversight with technology, the Concept would cover both internal and external monitoring of firm activities to encompass all accounting, auditing and attestation engagements firms perform for private entities.

Future of Practice Monitoring Paper and Resources 

The AICPA launched the Future of Practice Monitoring Concept paper on December 15, 2014. The Concept is Phase 2 of the AICPA's Enhancing Audit Quality (EAQ) initiative, launched in May 2014. The Concept is a thought-provoking vision of what practice monitoring could look like in the future.

The program described in the Concept seeks to increase public protection through enhanced audit effectiveness by:


  • Highlighting potential quality risk indicators and detecting engagement issues earlier,
  • Reviewing all firms that perform accounting, auditing and attestation engagements, and
  • Monitoring all engagements subject to review.




The Concept will change and develop based on your feedback. In addition, as technology advances, the Concept will be continually adjusted and refined.


Input and feedback on the Concept was due June 15, 2015.

Future of Practice Monitoring Infographic 

Click the image below to get a close-up of how practice monitoring could look in the future.


Evolving the CPA Profession's Peer Review Program for the Future
What could practice monitoring look like in the future?  A new concept paper reimagines the CPA profession's peer review program. This video highlights the concept and describes the purposely provocative vision.

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