A proposed change to the AICPA Peer Review Program would centralize the administration of peer reviews for firms operating under alternative practice structures, such as those with private equity investments.
The AICPA Peer Review Board is seeking public comment through Saturday, Oct. 25, on Peer Review Standards Update (PRSU) No. 3, Modernizing Peer Review Administration Requirements.
The proposed change to the standards, according to the news release, allows the Peer Review Board discretion to require certain peer reviews be administered by the National Peer Review Committee — a panel of 15 to 17 practitioners with broad, national experience and expertise — through the issuance of application guidance.
If the PRSU is approved by the Peer Review Board, it would be effective for peer reviews with years ending on or after Dec. 31, 2025. Learn more.