Peer Review

What is Peer Review?

Peer review sets CPAs apart from other professions and shows their dedication to upholding the standards of the profession.

The Wisconsin Accounting Examining Board of Accountancy (AEB) requires firms that perform audits, reviews, compilations and/or attest service engagements to be enrolled in a peer review program.

The AEB has adopted the model used by The American Institute of Certified Public Accountants (AICPA). Firms that perform attest services are required to undergo a peer review every three years.

A peer review is a periodic external review of a firm's quality control system in accounting and auditing and is also known as the AICPA's practice monitoring program. AICPA members and WI firms engaged in the practice of public accounting are required to practice in a firm that is enrolled in an approved practice-monitoring program such as the Peer Review Program.

The program is designed to be educational for firms in public accounting to further enhance the quality in their performance of accounting and auditing work. The program also allows for firms to communicate with their fellow peers on the objectives of the accounting profession.

Mandatory Peer Review in Wisconsin

Accy 6.101 (3) A firm that has not offered or performed an attest service within the 3-year period preceding application for renewal shall notify the department at the time of renewal that it is exempt from the peer review requirements of this section because it has not offered or performed an attest service within the 3-year period. If a firm that has claimed the exemption in this section subsequently performs an attest service, it shall notify the board by letter that it is no longer exempt from the peer review requirement within 30 days after accepting the engagement for the attest service and that it agrees to undergo a peer review within 18 months after accepting the engagement.

Note: The following questions are intended to assist firms in determining whether a peer review is required for renewal. An affirmative response to any part of any question means that a peer review is required. Caution: This list is not exclusive. Refer to the standards if in doubt.

  1. Does your firm audit SEC clients, including employer-sponsored plans required to file a form 11-K with the SEC?
  2. Does your firm currently perform the following types of engagements?
    • Engagements applying Statements on Auditing Standards (SASs) - Audits?
    • Agreed-upon procedures?
    • Engagements applying Statements on Standards for Accounting and Review Services (SSARS)?
    • Reviews of financial statements?
    • Compilations of financial statements with disclosures?
    • Compilations of financial statements where "Selected Information-Substantially All Disclosures Required Are Not Included?"
    • Compilations of financial statements that omit substantially all disclosures?
    • Engagements applying Statements on Standards for Attestation Engagements (SSAE)?
    • Engagements applying International Financial Reporting Standards (IFRS) or International Auditing Standards (IAS)?
    • Examinations of prospective financial statements under SAARS?
    • Compilations of prospective financial statements under SAARS?
    • Agreed-upon procedures of prospective financial statements?
    • Examinations of written assertions?
    • Reviews of written assertions?
    • Agreed-upon procedures of written assertions?
    • Engagements under Government Auditing Standards (Yellow Book)?
    • Engagements applying PCAOB Auditing Standards?
    • Engagements applying PCAOB Attestation Standards?
    • Work performed as subject to requirements of the AICPA peer-review program?

Peer Review Administration

Effective May 1, 2017, the WICPA Board of Directors has outsourced the administration of the peer review program for WI firms to the Illinois CPA Society.

We're Here to Help, Contact Us

Our goal is to help the reviewed firm and the reviewers have the smoothest possible progression through the peer review process.

If you have questions regarding enrollment or scheduling, please contact Melinda Hart at 312-517-7609 or, or Liger Needom at 312-517-7629 or

If you have questions regarding technical issues, please contact Heather Lindquist at 312-517-7624 or, or Paul Pierson at 312-517-7610 or

You may also contact the AICPA at 919-402-4502 or

For more information regarding the Peer Review Program, please visit the Illinois CPA Society website at