Note: For the Peer Reviewer Training Courses described below which are offered in live seminar format, the links go to a list of all of the dates and locations offered by state societies around the country. Please contact your State CPA Society to register for any of these courses and be sure to confirm the date and location as they are subject to change.
To maintain the qualifications of a team captain, you should participate in eight hours of CPE in peer review training within three years prior to the commencement of a review. Continuing education options include:
1. Participating in the National Peer Review Conference which provides at least eight hours of CPE that meet the peer reviewer continuing training requirement.
2. Completing the "AICPA Advanced Course: Overview of the AICPA Peer Review Program Standards."
Note: This course is being rewritten and the revised course will be available starting May 2014.
3. Completing either Day 1 or Day 2 of the "How To Conduct a Review Under the AICPA Practice Monitoring Program" in live seminar format. Note: This option for ongoing education will no longer be available starting in May 2015.
4. Participating in eight hours of approved peer review webcasts in the three years prior to the commencement of the review.
2014 Approved Peer Review Webcasts
Sufficiency of Audit Evidence - a Peer Review Focus
Speaker, Lyn Graham, hosted the Sufficiency of Audit Evidence - a Peer Review Focus webcast on November 17, 2014. The webcast focused on internal controls, risk assessment (including linkage to financial statement assertions), and sampling. The webcast addressed issues commonly noted in inspections and peer reviews prior to planning this year’s engagements. Listen to the archived webcast.
Peer Review Update
The annual Peer Review Update webcast was held on June 2, 2014. Listen to the archived webcast.
Getting Back to Basics Webcast
In an ongoing effort to enhance reviewer performance, the July 17, 2014 webcast covered key areas of a Peer Review that cause the most problems. Course instructors Ray Nowicki and Jim Woy provided tips to help eliminate any confusion in these areas. Listen to the archived webcast.
A minimum of two approved webcasts will be hosted per year and webinars are expected to be two hours in length.
Please note that the webcast course description will specify whether the course has been approved for ongoing peer reviewer education.
Example of How to Meet Ongoing Educational Requirements through Webcasts
Assume a team captain takes his first two-hour peer review webcast on June 5, 2013 and his fourth webcast on May 5, 2014. Effective May 5, 2014, the team captain has met his ongoing training requirements by obtaining eight hours of approved peer reviewer training. Assuming the team captain takes no additional training after that date, effective for reviews commencing on or after June 6, 2016 the team captain no longer meets his ongoing training requirements because he has not obtained eight hours of peer review CPE in the three years preceding the commencement of the review. The team captain would be required to attend additional training in order to perform reviews commencing on or after that date.
To maintain the qualifications of a review captain, you should participate in eight hours of CPE in peer review training within three years prior to the commencement of a review. You should:
1. Meet the ongoing qualification requirements for a System Review team captain, OR
2. Complete the "How to Perform an Engagement Review Under the AICPA Practice Monitoring Program" in live seminar format.