Who Participates in Peer Review?
Firms that are members of one of these centers have their peer reviews performed under the AICPA Peer Review Program or the Center for Public Company Audit Firms Peer Review Program:
- National Peer Review Committee (NPRC)
- Employee Benefit Plan Audit Quality Center (EBP)
- Governmental Audit Quality Center (GAQC)
- Center for Audit Quality (CAQ)
- Private Companies Practice Section (PCPS)
These firms have agreed, as part of their membership requirement, to have their peer review results made available to the public. The public file includes the firm's most recent peer review report and the firm's response (if any).
Protection of Confidential Information
A peer review must be conducted in compliance with the confidentiality requirements set forth in the AICPA Code of Professional Conduct. Information concerning the reviewed firm or any of its clients or personnel that is obtained as a consequence of the review is confidential.
Peer reviewers may not disclose such information to anyone who is not involved in carrying out the review or administering the peer review program, or use such information in any way not related to meeting the objectives of the program. Also, no reviewer(s) will have contact with clients of any firm.
Neither the administering entity nor the AICPA shall make the results of the review available to the public, except as authorized or permitted by the firm under certain circumstances such as:
- A firm may be a voluntary member of one of the AICPA’s audit quality centers or sections that has a membership requirement that certain peer review documents be open to public inspection.
- A firm may elect to a voluntary disclosure of peer review results to state boards of accountancy (SBOAs) where the firm’s main office is located.
- A firm may voluntarily instruct their administering entity to make the peer review results available to certain other SBOAs.
The administering entity and the AICPA may disclose the following information:
- The firm’s name and address
- The firm’s enrollment in the program
- The date of acceptance and the period covered by the firm’s most recently accepted peer review
- If applicable, whether the firm’s enrollment in the program has been dropped or terminated