CBM Senior Advisor Anthony Cuozzo testified before the Maryland State Board of Accountancy on AICPA’s proposed changes to the administration of its peer review program throughout the country including an ongoing emphasis on the practitioner’s role to more completely perform and document risk assessments associated with audit engagements.
Tony also reported that, as a result of a significant change AICPA has made for states that administer the peer review program, that more than 100 non-AICPA member firms are now utilizing the AICPA’s member software to process their peer reviews, further adding to the prevalence of firms that are relying on this specialized software.
He also noted, however, that the number of firms within the State of Maryland is moving in the opposite direction, decreasing due to such factors as changing professional standards and organizational mergers.
For more information about Tony’s involvement in the MACPA peer review committee and the AICPA peer program, contact him here. He frequently presents on this topic for firms across the state and at conferences such as the 2017 MACPA Practitioners Conference.