Noecker, Richard J. of Roselle Park, NJ

As a result of an investigation of alleged violations of the Code of Professional Conduct of the AICPA, Mr. Noecker, with the firm of Richard J. Noecker, CPA, LLC, entered into a settlement agreement under the Joint Ethics Enforcement Program, effective November 8, 2016.

Information came to the attention of the Ethics Charging Authority (“ECA”) (comprised of the AICPA Professional Ethics Executive Committee) alleging a potential disciplinary matter with respect to Mr. Noecker’s failure to ensure his firm obtained an appropriate peer review.

The ECA reviewed the allegations in the referral and information publicly available on the United States Department of Labor’s EFAST website and Mr. Noecker’s responses to such allegations.  The ECA charged Mr. Noecker with violations of the AICPA Code of Professional Conduct as follows:

Rule 202 – Compliance with Standards

The title of the auditor’s report does not include the word “independent.” (AU §508.08)

Rule 501 – Interpretation 501-5 – Failure to follow requirements of governmental bodies, commissions, or other regulatory agencies

  1. As the partner responsible for his firm’s peer review compliance, Mr. Noecker failed to ensure it complied with state board requirements and those of the AICPA to undergo a peer review.

  2. The Statement of Net Assets Available for Benefits is not presented in comparative format. (29 CFR 2520.103-1(b)(2)(i))


In consideration of the ECA forgoing further investigation of Mr. Noecker’s conduct as described above and in consideration of the ECA forgoing any further proceedings in the matter, Mr. Noecker agreed as follows:

  1. To waive his right to a hearing under AICPA bylaws section 7.4.

  2. To neither admit nor deny the above specified charges.

  3. To comply immediately with professional standards applicable to the professional services he performs and to submit evidence of such compliance.

  4. To his suspension from membership the AICPA for the period of two years from the effective date of his agreement.

  5. To provide an attestation immediately, then every six months for a period of three years that he is no longer performing audits, reviews or compilation engagements. If he returns to performing such work, he agrees:

    • To complete a 9.0 hour continuing professional education (CPE) course (Upcoming Peer Review: Is Your Firm Ready?) prior to resuming such work and provide evidence of completion (e.g., attendance sheets, course completion certificates, etc.)

    • To schedule a peer review of his firm upon resuming audits, reviews or compilations.  The review should be scheduled through his firm’s administering entity within 60 days of resuming such engagements, and he must submit evidence of the scheduled review by submitting a copy of the review team approval letter issued by his firm’s administering entity. His firm’s accepted peer review documents will be due to the ECA within 10 months of resuming such engagements.

  6. To be prohibited from performing peer reviews in any capacity until the directives in this letter have been completed. This restriction will be communicated to his peer review oversight agency.

  7. That the ECA shall monitor his compliance with the terms of this settlement agreement and initiate an investigation where the ECA finds there has been noncompliance.

  8. That the ECA shall provide a copy of this settlement agreement to the AICPA’s Peer Review Division staff, his peer review administering entities and his firm’s peer reviewer.

  9. That the ECA shall publish his name, the name of his firm, the charges, and the terms of this settlement agreement.