Types of reviews and review methods

In scheduling your firm’s upcoming peer review, you have two options from which to choose. 

• System review – This type of review is for firms that perform engagements under the Statement on Auditing Standards (SASs), the Government Auditing Standards (Yellow Book) or examinations of prospective financial information under the Statement on Standards for Attestation Engagements (SSAEs) or audits of non-SEC issuers performed pursuant to the standards of the PCAOB.
  
  
• Engagement review – This type of review is for firms that are not required to have a system review and only perform services under SSARS or services under the SSAEs not included in System Reviews. Firms that qualify for an engagement review, do have the option to have a system review if it so chooses. 

After determining what type of review your firm will need, you must then choose one of the following review methods:

• Firm-On-Firm Review
• In-House C.A.R.T. Review
• Association Review

Peer Review Resources