Who audits your Auditor?
As a business owner, director or member of senior management, you should know whether your auditor is a member of the Division for CPA Firms of the American Institute of CPAs. Why? Because member firms have to go through a special type of audit themselves, called peer review.
Many CPAs don't feel it is necessary to belong to the Division. But you should know that hundreds of firms voluntarily take this extra step to test their quality controls. And quality control is as important in CPA firms as it is in your business. The Division for CPA Firms was founded in 1977 by the American Institute of CPAs to provide a voluntary, objective means of monitoring adherence to professional standards.
Each member firm is required every three years to subject its audit and accounting practice to a comprehensive quality review by specially trained outside CPAs.
Peer review reports are available to any interested person- and they can tell a lot about the firm.
If you would like the latest report on a particular CPA firm or a directory of Division members, ask the firm itself or write or call the Division Coordinator, AICPA Division for CPA Firms, 1211 Avenue of the Americas, New York, NY 10036.
In New York state: 212-575-6446
Elsewhere: 800-CPA-FIRM or 800-272-3476
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