Sciarabba Walker has participated for many years in AICPA peer review, including as an established reviewer of other CPA firms. David Iles, our managing partner, is a chair of the NYSSCPA peer review committee.
Peer reviews are now mandatory for CPA firms that provide attest services in New York State. Sciarabba Walker welcomes the new Mandatory Quality Review (MQR) program, both as a participant and as a reviewer.
Every three years we engage a leading AICPA firm to “audit our audits.” Even when peer review was voluntary, we found it a valuable exercise, to:
- Ensure we meet the latest professional standards
- Obtain an outside perspective on our accounting practices and procedures
- Gain insight into ways we can improve client service
The American Institute of Certified Public Accountants (AICPA) sets the standards for administering, performing, reporting on, and accepting reviews. The peer review examines:
- Work papers
- Financial statements
- Quality control over policy and process
- Conformity to standards on training and continuing education
- Adherence to AICPA policy on independence
- Other issues which affect overall quality
We are proud to have earned pass reports, the highest AICPA rating, for every peer review throughout our history, an indication of our commitment to the standards and respect for the process.
Our pass reports