Reviewer Reminders

We prepare and update "Reviewer Reminders" annually for the purpose of providing reviewers of NEPR firms information on administrative and technical reminders related to peer review, which includes issues we have come across in the past, new changes in the administration of peer review this year and helpful information to assist you in providing this important & valuable service to CPA firms.

This booklet is not intended to replace or supersede AICPA Standards, guidance, website material or other documentation provided by the AICPA as it applies to the AICPA Peer Review Program.

2011 Reviewer Reminders

top repeat pre-tech issues

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Pre-tech Checklists!

• Incomplete or inadequate documentation of risk assessment.
• Report issues:
  • All peer review reports must have a title at the top of the page (either “System Review Report” or “Engagement Review Report”) and must be addressed to both the firm and to the Peer Review Committee of New England Peer Review.
  • In addition, system review reports must include a separate paragraph describing engagements performed under the Government Auditing Standards, audits of employee benefit plans, and/or audits performed under FDICIA if the review has such engagements.
  • Be sure to remind firms that they do NOT need to send a copy of the report to NEPR if the review has a rating of "pass".
• Incorrect completion of the TC/Reviewer checklist: When a question on either of these checklists is not applicable to the review it should be marked “n/a” as opposed to initialing the item. For example, if the firm has not been issued MFCs, FFCs or does not need an LOR, any reference to them should be “n/a”. This assures the Committee that the aforementioned documents have not been inadvertently left out of the workpaper package and that the checklist is consistent with the rest of the workpapers.
• Please ensure that the dates in the workpapers and on the reports conform to each date (date of report/SRM/completion form on system reviews and date of report/completion form for engagement reviews.