By Kevin Humphries, CPA
Chair, VSCPA Peer Review Committee
Greetings, and welcome to the inaugural edition of the Peer Review Source. On behalf of the VSCPA Peer Review Committee, I am delighted to introduce a series of newsletters designed to inform, enlighten and encourage members about the peer review process in Virginia. Since 1989, peer review has been the cornerstone of monitoring practice quality for one of the most trusted of all professions.
In this newsletter, you’ll find articles and other information that will lift the curtain on the peer review program and its coordinated administration by the VSCPA and AICPA. Upcoming newsletters will cover such topics as how to prepare for a peer review, what happens after your peer reviewer leaves your office, best practices for managing a system of quality control, pitfalls to avoid in high risk engagements and more.
As your Peer Review Committee, along with the excellent support of VSCPA management and other team members, we are committed to administering the program according to the guidelines set forth by the AICPA Peer Review Board. Equally important, we are committed to the constructive philosophy of the Peer Review program, which seeks not to punish, but to educate and encourage members performing engagements subject to peer review.
We simply ask that you, as equally engaged stakeholders, take a few minutes to read and absorb this publication. I am convinced it will help you in your next peer review and make a difference in the quality of your day-to-day practice. We would also appreciate your feedback, whether in the form of critique or suggestions of topics you’d like to see covered. Together, we can uphold the crucial role of the CPA in protecting the public interest.