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Recognizing the public’s interest in reliable financial statements and the importance the public attaches to reports by CPAs on those statements, the AICPA requires its member firms to undergo a peer review. IMPORTANT: The WV Board of Accountancy (WV BOA) requires firms to provide them with proof of enrollment in an approved peer review program if they are performing attest services or wish to retain their authorization to perform attest services. Attest services include issuing audits, reviews or compilations. A peer review is a periodic outside review of a firm’s quality control system in accounting and auditing and is also known as the AICPA’s practice monitoring program. AICPA members engaged in the practice of public accounting and firms that wish to retain their WVBOA authorization to perform attest services in the state of West Virginia are required to practice in a firm that is enrolled in an approved practice-monitoring program such as the Peer Review Program. The West Virginia Society of CPAs administers the AICPA Peer Review Program in the state of West Virginia. This program is designed to be educational for firms in public accounting to further enhance the quality in their performance of accounting and auditing work. The program also allows for firms to communicate with their fellow peers on the objectives of the accounting profession. The Society administers reviews regardless of whether or not a firm is a member of the AICPA or WVSCPA.
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