Benefits of Peer Review

The goal of the peer review program is to be educational. There are many benefits to be gained from participation in the program. For Instance, by preparing and learning from the peer review process, a firm can design an internal quality control system that will enable the firm to develop and refine the technical skills of their employees. To deliver high quality professional services and products and prepare members of the firm to meet the challenges of practice in the future.

Small firms benefit from peer review

Participation in the AICPA peer review program provides a number of benefits to small firms:

• It provides the opportunity to learn new or improved ways to provide accounting and auditing services to clients.
• It keeps the firm’s accounting and auditing personnel current on the latest standards and trends in accounting and auditing.
• It helps create a more level playing field for firms making it easier for small firms to compete with larger firms.

Clients benefit from your firm’s peer review

One of the benefits many firms have found from completing the peer review process is that it has provided them with the opportunity to learn new or improved ways to run their firms and improve client services. Their clients have benefited because the services are more pertinent to their needs and responsive to a changing business environment. The successful completion of a peer review also demonstrates to clients that your firm has measured up to the profession’s highest standards of peers and professionalism.

Firms, which have successfully completed a “system” review, use the peer review as an effective marketing tool.

By request, The Society will provide marketing information to firms, which have completed a successful “system” peer review. The promotional packet includes a sample press release and client letter.

Peer Review Resources