(Cross-post from my other blog, Nonprofit Update.)
I am pleased to report that my firm received a pass rating on the peer review which was performed in November 2012.
The peer review program is a process the CPA profession has developed to look at the quality of audit and other attestation work performed by CPAs. Firms are inspected by other firms to evaluate compliance with various professional standards.
I am also pleased to report this is the fourth review my firm has gone through, and all of the reports were at the highest rating possible.
It is now mandatory for CPAs in California who provide attestation work to go through the peer review process. I have voluntarily obtained peer reviews since starting my firm in 2002.
More discussion of the journey through the peer review process this cycle can be found on my Attestation Update blog.