About NEPR
Mission
Statement
To
administer the AICPA Peer Review Program responsibly, prudently, and cost
effectively for accounting and auditing practitioners in Maine, New
Hampshire, Rhode Island and Vermont, while assuring the educational and
remedial goals of the program and promoting and enhancing consistent
professional excellence in the performance of accounting and auditing
engagements.
It is with this statement in mind that procedures have been implemented from
the outset by which this entity consistently endeavors to provide a
"Bridge to Excellence."
History
In 1989, the four state societies of Maine, New Hampshire, Rhode Island
and Vermont elected to administer the American Institute of Certified
Public Accountants Quality Review Program on a cooperative basis under
the name New England Quality Review, whose sole purpose was to
administer the program to promote higher standards for accounting and
auditing practices on a regional basis for the four states. The pilot
administration was coordinated by the New Hampshire Society of CPA’s. In
July, 1991, this consortium of states became a separate incorporated
entity, the only one of its kind in the United States. This new
non-profit corporation was mandated by the four state owners to operate
within a balanced budget and does not receive subsidies of any kind, but
is supported independently by annual administration fees, as well as
triennial scheduling and evaluation fees.
On October 24, 1994, the AICPA Council voted unanimously to combine the
Private Companies Practice Section (PCPS) Peer Review Program with the
Quality Review Program and subsequently, changed the name to the AICPA
Peer Review Program (PRP) in order to establish continuity and
uniformity. In January, 1995, the NEQR Executive Committee voted a name
change to New England Peer Review (NEPR) to be effective May 1, 1995.
The addition of
the PCPS Peer Review Program increased NEPR’s 1995, review
administration base by approximately 43. The New Hampshire
and Rhode Island Board of Accountancy now require peer review as a
criteria for licensure, which will increase NEPR's administration of
reviews by 50 in 1998, bringing the total of active firms to over 650.
Plan of Administration
Annually, the AICPA
Peer Review Board requires that NEPR submit a Plan of Administration for
approval, which outlines the level of involvement for the following
year. NEPR must also agree:
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