Peer Review Changes Due to Coronavirus
The following information has been provided by the AICPA with regard to upcoming peer reviews:
We understand how travel restrictions and health concerns may impact the ability for firms to have peer reviews performed onsite and on time. As such, we want to remind you of potential options to use during these uncertain times.
For reviews that are scheduled to commence prior to July 1, 2020:
- Completion of the Offsite Review Request Form or advanced approval of an offsite system review from the firm’s administering entity (AE) is not required. Peer reviewers will still determine whether a specific review can be performed offsite. If not, they should discuss a possible extension.
- Reviewers should discuss with firms whether extensions of system or engagement review due dates and corresponding corrective actions and implementation plans, if applicable, would be appropriate. For help, please see instructions for requesting a due date extension in PRIMA.
A Reviewer Alert with details is available.