CPA Peer Review
Since 1887, the American Institute of Certified Public Accountants (AICPA) has maintained its prestige as one of the most ethically accountable and highly respected professional associations. As part of this commitment to ensuring that each of its members upholds the rigorous professional standards of the AICPA, CPA firms must undergo a peer review once every three years. In a CPA peer review, an independent CPA firm scrutinizes another firm in order to maintain and improve the quality of the accounting and auditing services performed for clients.
In Florida, CPA firms voluntarily select which firms perform a peer review. As a nationally respected and locally established CPA firm, Hammock & Associates CPA has conducted peer reviews for a number of Florida CPA firms. The AICPA recommends that CPA firms choose a peer reviewer for a Firm-on-Firm (FoF) review based on three key criteria: efficiency, cost-effectiveness and value-added. We continue to be a preferred Jacksonville CPA firm for peer reviews because we embrace and embody each of these qualities:
- Efficiency – As experienced peer reviewers, we conduct an exhaustive, comprehensive and rigorous examination of your firm with minimal interruption to day-to-day business activities.
- Cost-Effectiveness – Our flexible peer review fees are tailored to meet the size, nature and complexity of your accounting and auditing practice. Also, by pursuing a FoF review, you save on the administrative costs of seeking out a committee-appointed review team.
- Value-Added – The business acumen of our team members extends beyond accounting and auditing. Just as we offer our clients business advisory support, we can provide analysis and insight into your firm’s partner compensation, hiring practices, billing, collection, technology issues, human resources matters and other areas important to running a successful CPA firm.
At H&A CPA, we approach the peer review process with high regard for the professional standards delineated by the AICPA. We are committed to improving your CPA firm from the inside out. In addition, our firm is one of the few Florida CPA firms with two certified peer reviewers on staff.