Tysiac, Ken

Changes proposed to peer review standards

The article reports on the exposure draft issued by the Peer Review Board of the professional organization American Institute of Certified Public Accountants (AICPA) which outlines the proposed changes to the standards for performing and reporting on peer reviews in the U.S. The proposed changes, which are part of the AICPA's Enhancing Audit Quality initiative, include enhancing the peer review of the quality control system of a firm and clarifying the peer review report model.