about us

New England Peer Review is co-owned by the State Societies of Maine, New Hampshire, Rhode Island and Vermont. Our primary purpose is the administration of the Peer Review Program for Certified Public Accountants whose main office is located in one of our four states. Read More

AICPA

revised peer review standards

The AICPA Peer Review Board has issued revised Standards effective for peer reviews commencing after January 1, 2009. In conjunction with the implementation of the new Standards, the AICPA has produced revised manuals and comprehensive guidance to assist firms, reviewers and administering entities with the many changes. It is recommended that managing partners and individuals involved with the firm’s quality control system read these documents in preparation for their upcoming peer reviews.

A suggested reading list:

Read More on Standards Changes in Our Newsletters

peer review information systems manager

To ensure that you receive email letters and notices from NEPR:

  • Update the e-mail address for your firm’s managing partner and peer review contact by informing NEPR of changes at info@nepr.org
  • Add “peerreview@nepr.org” to your e-mail safe senders list.

Prefer not to receive e-mails? You will continue to receive hard-copy correspondence if you do not have an e-mail address on file with us.

NEPR is transitioning to the Peer Review Information System Manager (PRISM), a new Web-based system for administering and tracking peer reviews. As we make this conversion, you will notice a number of improvements that allow for more efficient and effective peer review administration while maintaining the high level of customer service you expect from us.

Significant Changes Coming This Year
  • Peer review letters and correspondence will soon be sent by e-mail.
  • Scheduling and review team information will be submitted online via a web form.
  • Once this web form is operational, NEPR will no longer mail the Information Required for Scheduling Reviews packet, with the exception of firms that do not have email or have requested that we continue mailing documents.
Transition Information

We are taking all possible steps to avoid major service interruptions during the transition. However, there may be occasional periods where we are unable to timely process information and we appreciate your patience and understanding. We encourage firms due in 2010 to submit their scheduling information as soon as possible. All firms are expected to have their peer review performed prior to their due date, and firms also need to ensure they are in compliance with their state licensing requirements. If you have any questions regarding your firm’s peer review situation, please contact us at (603)623-3513 or info@nepr.org

facilitated state board access

Facilitated State Board Access (FSBA) uses the existing peer review process to facilitate the voluntary disclosure of peer review results to participating state boards of accountancy. The goal of this process is to create a nationally uniform system through which CPA firms can satisfy state board peer review information requirements, increase transparency, and retain control over their peer review results.

FSBA Highlights
  • The program uses a secure, limited-access Web site that is only accessible to authorized state board of accountancy representatives.
  • The AICPA and state CPA societies are working together to allow this process to become the primary method by which all state board of accountancy obtain peer review results.
  • Many state boards of accountancy have not yet approved this new process. Therefore, you must continue to follow current state board of accountancy requirements until notified otherwise.
Read More

recent peer review changes

meeting

During the past several years, there has been increasing scrutiny of the quality of Single Audits. In June 2007, the results of a federal study on single audit quality were issued by the President’s Council on Integrity and Efficiency (PCIE).

In response to the report, the AICPA formed seven task forces, one of which is the Practice Monitoring Task Force. The task force has studied the results of the PCIE report to determine ways in which the peer review process can aid in enhancing the quality of performance of Circular A-133 audits by member firms. During the past year, the PRB has approved two enhancements to the review of A-133 engagements. The revised Interpretation 63-1a to require review of an A-133 engagement was effective for reviews commencing September 1, 2009. For reviews commencing on or after November 1, 2009, new engagement profiles and a bifurcated A-133 checklist (PRP-22100 Part A and B, Supplemental Checklists for Review of Single Audit Act/A-133 Engagements) are required.

If you perform A-133 audits, we recommend discussing the impact on your upcoming peer review with your reviewer or contact NEPR for further information.