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PROC schedules oversight volunteers and notes AICPA peer review standards update
Summary
The committee assigned volunteers for forthcoming RAB sessions and out-of-state oversight visits (Michigan, Georgia, Washington, Coastal peer review) and heard that AICPA Peer Review Standards Update No. 2 is now live, aligning peer review standards with new quality management requirements.
The Peer Review Oversight Committee reviewed upcoming peer-review oversight activities and filled volunteer slots for report-acceptance-body (RAB) sessions, administrative site visits and out-of-state oversight.
Staff member Matthew Parsons walked through the RAB volunteer roster and upcoming dates through June. Committee members volunteered for specific sessions and out-of-state oversights (examples included commitments for Michigan and Georgia reviews and multiple May RAB sessions). Members also discussed keeping at least one consistent participant on the administrative site visit and ensuring two participants for that visit.
Separately, Jeffrey Delizer reported that the AICPA posted a press release announcing Peer Review Standards Update No. 2 is now available on the AICPA website; the update conforms peer review standards with new quality management requirements. Delizer said there was little additional peer-review-related content on the AICPA and NASBA websites beyond that announcement.
Nick Peterson also briefed the committee on attendance at three RAD meetings since the last PROC meeting; each meeting presented about 10 reports and met expectations. Sharon Selleck reported a clean Virginia oversight report with some training recommendations for technical reviewers and RAB members that were not significant enough to change the report.
