April 2001

Members Can Meet Peer Review Requirement at Advanced Training Session

System review team captains can fulfill their peer review requirement on May 23 when the New York State Society of CPAs hosts the “Advanced Training Course for Reviewers: Current Issues in Practice Monitoring.” Raymond M. Nowicki, a member of the NYSSCPA Peer Review Committee and Team Captain Oversight Task Force, will lead the one-day seminar.

The course was developed by the American Institute of CPAs’ Peer Review Division to provide the continued educational support needed by experienced reviewers. All system review team captains must attend a comprehensive update and training course within five years prior to the commencement of a review (per Interpretation No. 3, “Team Captain and Reviewer Training Course,” AICPA Guidance for Performing and Reporting on Peer Reviews).

The course is designed to give experienced reviewers an opportunity to discuss new developments and refine operating methodologies to improve the efficiency and effectiveness of the practice-monitoring process.

It emphasizes areas in which reviewers have had difficulty in the past. Since all participants should be experienced reviewers, the course encourages significant participant feedback with case studies designed to stimulate discussion and draw upon the experiences of the participants.

The course also includes comprehensive application-oriented coverage of the recent revisions to peer review standards. A series of roundtable discussions will allow participants to discuss issues encountered during practice-monitoring engagements, as well as how the most recent overhaul of peer review standards will affect their reviews.