I am now eligible to perform Peer Reviews
By reinydawn
@reinydawn (11642)
United States
November 5, 2008 10:32pm CST
CPA firms are required to have a Peer Reveiw done on a regular basis - at least in our state. We had ours today and the CPA that performed it said we're doing an excellent job. All our reports are in order and she only had a few suggestions for us. We're being issued a perfect report which is the first criteria to being able to perform Peer Reviews on other firms. There's also an 8-hour course you have to take, but that's about it. I don't know that this is something I'll be doing any time soon, but my boss is going to be looking into it as another avenue for bringing some more income into the business.
We were both very pleased to get a perfect report, and I think my boss was a little bit surprised! Whew, now I just have to make sure that we can maintain that status!
1 response
@reinydawn (11642)
• United States
6 Nov 08
A Peer Review is when another Certified Public Accountant comes into your office and looks over your work. They make sure you're doing everything right. It's basically so there aren't any more "Enron" problems and stuff, although it's not totally fail-safe. We do feel pretty honored that we're getting a perfect report, makes it look like we know what we're doing!!! (hehehehe)
