The AICPA Peer Review Board (Board) approved changes to the experience codes for peer reviewers. The changes are effective October 1, 2007. Peer reviewers are requested to review their current resume and make changes as necessary to reflect the appropriate experience code based upon the revised definitions.

The Experience Codes on the Reviewer Resume have been revised to provide further clarification as to their meanings and reflect the guidance as contained in the Standards.

• Code A should be used for those currently (presently involved) in supervising or performing engagements; or carrying out all components of the quality control functions on engagements (including review of related engagements as part of the firm’s monitoring or inspection process.
• Code B should be used for those recently involved in supervising or performing engagements, meaning not presently involved, but within the past 5 years.
• Code C should be used for those supervising or performing certain aspects of the quality control functions on engagements such as pre-issuance reviews. This would be different from Code A in which the reviewer performs all components of the quality control function.

A reviewer must have at least five years of recent experience in the practice of public accounting. Reviewers are reminded in some cases it may be necessary to have “current” practice experience in high-risk industries or industries in which new standards have been implemented.

Peer Review Team
919-402-4502

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