Please note, for reviews that commenced before January 1, 2017, archives of the checklists and forms are at the bottom of this page. Early adoption of these checklists and forms is not allowed, except for sections 4500, 4550, 4600, 4650 and 4700.
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 May PRB Meeting Materials 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.