$user_is_a_tr : 		  


The AICPA Peer Review Program requires that every peer review administering entity must follow certain oversight procedures. The minimum that we are required to oversight annually are:

  • On-site oversight of system reviews, which may include firm “must-select” engagement oversight – at least 2 annually (the AICPA Oversight Task Force has revised the NEPR minimum system review oversight to a minimum of 1 annually over the last 2 years due to COVID).
  • Off-site oversight – at least 2 engagement reviews per year (the AICPA Oversight Task Force has revised the NEPR minimum engagement review oversight to a minimum of 1 annually over the last 2 years due to COVID).

We believe oversight to be a vital component in ensuring the integrity of the Peer Review Program. NEPR will not consider a waiver from an oversight unless a firm is able to substantiate extreme and/or justifiable circumstances.

If you believe this to be the case, please submit a letter to NEPR, detailing the circumstances. Each waiver request will be evaluated on a case-by-case basis.

oversight of peer reviews and reviewers

NEPR's Peer Review Committee is responsible for monitoring and evaluating peer reviews of those firms whose main offices are located in its states. Administering entities are required to submit their oversight policies and procedures to the Peer Review Board(PRB) on an annual basis. The committee establishes oversight policies and procedures that at least meet the minimum requirements established by the PRB to provide reasonable assurance that:

  • Reviews are administered in compliance with the administrative procedures established by the PRB.
  • Reviews are being conducted and reported upon in accordance with the Standards.
  • Results of reviews are being evaluated on a consistent basis.
  • Information disseminated by NEPR is accurate and timely.

Throughout the year, NEPR selects various peer reviews for oversight. The selections can be on a random or targeted basis. The oversight may consist of performing a full working paper review off-site, after the review has been performed (off-site oversight), but prior to presenting the peer review documents to the committee. The oversight may also consist of having a committee member or designee visit the firm while the peer review team is performing the review (on-site oversight). As part of its oversight process, the NEPR Committee oversights both firms being reviewed as well as reviewers performing reviews.