Key Strategies for Having a Smooth Peer Review — Part 2
by Nina S. Sorelle, CPA, CGMA, Bowman & Company LLP –
July 24, 2025
My last article, "Key Strategies for Having a Smooth Peer Review," from the Summer 2025 issue of New Jersey CPA magazine, addressed what a firm could do to prep for a peer review. This article will discuss things you can do once the peer review has begun to have it proceed smoothly.
Gather Documents
As the peer reviewer plans the review, various documents will be requested. He or she will want to see a listing of your A&A engagements, your quality control or quality management document, your prior peer review report and related documents, copies of firm and individual licenses to practice public accounting, a staff listing and other documents that will facilitate the planning of the peer review. It is important that you respond as promptly as possible so that your peer review can be properly planned.
Be sure to have staff who work on A&A engagements available during the review. The peer reviewer will want to interview one or more staff members and there may be questions concerning the engagements selected for peer review.
Prepare the Environment
If the peer reviewer is performing the review on-site, consider providing the following:
- A quiet, comfortable workspace
- Coffee, water and other beverages
- Lunch in office or out (at a place that serves quickly)
Ask the reviewer about this early in the day. These courtesies will enable the reviewer to work in an efficient manner.
Maintain Communication
If the peer reviewer is performing the review off-site, be conscious of the reviewer’s time. Keep an eye on your email for any communications from the peer reviewer and answer them promptly.
In either case, answer any questions that the peer reviewer might have as soon as possible. Delays can cause unnecessary time and expense for your peer review.
During the review, be sure you fully understand the matters the peer reviewer is raising. Ask for technical references and consult them yourself. If the peer reviewer suggests a different workpaper format to better meet standards, ask for a sample. If you have a disagreement with the peer reviewer after carefully reviewing the standards, ask him or her if you might consult with the AICPA Peer Review Hotline (919-402-4502) for a resolution together.
When discussing any issues raised by the peer reviewer, assist him or her in identifying the reason for any departure from professional standards that may have arisen. It is important that the cause of any departures be identified so that the matters can be properly handled by the firm and not repeated.
If there is an engagement that has a major reporting or disclosure issue (what peer reviewers term “nonconforming”), consider what your responsibilities are under professional standards (AU-C section 560). The best course of action is most likely to recall and reissue the firm’s report on the financial statements.
 | Nina S. SorelleNina S. Sorelle, CPA, CGMA, is a consultant at Bowman & Company LLP and is a member of the NJCPA. More content by Nina S. Sorelle: |