Peer Review Program Manual

Peer Review Program Manual (PRPM) 


REMINDER: Peer Review Guidance and Practice Aid Changes Effective January 2017

During 2016, the AICPA Peer Review Board (PRB) approved significant changes to the Peer Review Standards, Interpretations, other related guidance and practice aids, which are effective for reviews commencing on or after January 1, 2017. These changes impact all phases of a peer review – planning, execution and reporting.

The October 2016 Reviewer Alert includes a detailed discussion of these changes that peer reviewers are encouraged to read. Additionally, a new webpage has been created that describes how the changes impact both review teams and firms and where more information can be obtained. 

More information can be found in the meeting materials from the May PRB meeting where these changes were discussed and approved. These materials also include an example timeline (page 173 of the PDF) of when certain procedures should be performed in a peer review that commences after January 1, 2017.

For updates, continue to monitor Reviewer Alerts.


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

Access to the PRPM, including Team/Review Captain Packages & Toolkits:  The PRPM is accessible in several ways:


On these AICPA peer review webpages, available for download to AICPA members, with some content available to the public (Standards, Interpretations, etc.).

On the AICPA's Online Professional Library (OPL) for subscribers. Subscribers can:

o    Search the PRPM

o    Add bookmarks and research notes

o    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." 

You can download a zip file of all practice aids (Team and Review Captain Checklists, Engagement Profiles and Practice Management Toolkits) and save it to your computer from:

o    this peer review webpage - scroll down to “Team and Review Captain Checklists (AICPA Members Only)” for the “Zip File”

o    OPL (for subscribers) – “Sign in” on aicpa.org, go to My Account, My Purchases, and then the My Downloads tab


Adobe Acrobat: Peer Review practice aids are 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 Reviewer Alerts for further information.

Sections Available to the Public
Section
Number

Month Last Modified
(Effective First of
Subsequent Month)
 


Section Title
1000 12/2016 (prev. 06/2016)   Peer Review Standards
2000 12/2016 (prev. 08/2016) Peer Review Standards Interpretations
3100 12/2016 (prev. 05/2015) Supplemental Guidance
3200 12/2016 (prev. 05/2015)    Peer Review Alerts
3300 12/2016 (prev. 08/2016) Report Acceptance Body (RAB) Handbook
3600 12/2016 (prev. 04/2014) Guidance for Writing Letters on Corrective Actions
4100 12/2016 (prev. 05/2015)   Instructions to Firms Having a System Review
4300 Eliminated 01/2017 (prev. 05/2015)   ELIMINATED EFFECTIVE 1/1/17 - Quality Control Policies and Procedures Documentation Questionnaire for a Sole Practitioner with No Personnel  (Note: Firms should use other resources to document their systems of quality control)
4400 Eliminated 01/2017 (prev. 05/2015)   ELIMINATED EFFECTIVE 1/1/17 - Quality Control Policies and Procedures Documentation Questionnaire for a Sole Practitioner with No Personnel  (Note: Firms should use other resources to document their systems of quality control)
 6100  12/2016 (prev. 05/2015)   Instructions for Firms Having an Engagement Review
 7100  1/2015   Guidance for Association Involvement
 8100 12/2016 (prev. 01/2013)   Instructions to Providers Having a Quality Control Materials (QCM) Review
 10,000  12/2016 (prev. 05/2015)   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
 
2016 Peer Review Program Manual - EFFECTIVE July 1, 2016
2015 Peer Review Program Manual
- EFFECTIVE May 1, 2015
2014 Peer Review Program Manual - EFFECTIVE April 1, 2014
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