What is Peer Review and why is it important for an accounting firm to participate in this program?
The peer review program, conducted by the American Institute of Certified Public Accountants, is a periodic outside review, performed by another accounting firm, of a firm’s quality control system in accounting and auditing. The program was instituted to promote these effective systems for certified public accounting firms.
Our firm participates in the practice review monitoring program and is evaluated every three years. Importantly, Wouch, Maloney & Co. has received an unmodified report following each review. These “unmodified” opinions expressed by the reviewers in their written peer review reports confirm that our firm has a sound system of quality control and meets the standards of the American Institute of Certified Public Accountant’s Statements on Quality Control Standards. It is the highest rating a firm can receive.
We are pleased to present a copy of our latest Peer Review certificate for your inspection.