It’s no secret that accounting requires extensive attention to detail. Often, the process can benefit from an extra set of eyes.
“Peer review” is important for academic journal publications to ensure the validity of the scientific findings and methods within, but did you know the term also applies to finances and accounting? Peer reviews determine if a CPA firm’s financial statements comply with professional standards. During a peer review, an independent CPA firm will review the financial statements prepared by another CPA firm.
Get a fresh perspective with financial peer review services from Haynie & Company.
Members of our Salt Lake City CPA firm serve as peer reviewers as part of the American Institute of CPA’s (AICPA) Peer Review Program. Let our qualified team review financial statements and records to ensure accordance with AICPA standards. Read on below for more details on the all-important peer review system, or contact us now for comprehensive Salt Lake City peer review, accounting, and auditing services.
PROFESSIONAL PEER REVIEWS IN SALT LAKE CITY
A peer review report sounds straightforward and simple enough, but it is a crucial component of accounting procedure. At Haynie & Company, our Salt Lake City team works with a wide variety of organizations on peer review projects. Our duties include but are not limited to:
- Bookkeeping
- Transitional records
- Transmitted records
- Tax filings
- Changes in GAAP (generally accepted accounting principles)
- Mergers & acquisitions
- Reconciliation
- Forensic accounting
- Audits
- Fraud detection
MAINTAIN COMPLIANCE WITH OUR LEADING AICPA-CERTIFIED FINANCIAL PEER REVIEWERS
With a corporate office based in Salt Lake City, Haynie & Company has been a proud provider of professional accounting services ever since 1960. We are recognized across the United States as the fastest-growing company (Accounting Today), a Top 100 Firm (Inside Public Accounting), and a Top QuickBooks and Pro Advisor. We serve the accounting needs of all types of businesses across numerous sectors, offering peer review to accountants that serve corporate boards, private businesses, nonprofits, and even government agencies. In everything we do, we remain thorough, reliable, transparent, and honest. It’s all part of our dedication to ensuring the accuracy of the accounting industry and upholding the integrity of American commerce.
Every good system needs its checks and balances, and our membership in the American Institute of CPAs Peer Review Program (AICPA) affirms that we provide peer review services at the highest level of professional standards.
WHAT IS THE AICPA PEER REVIEW PROGRAM?
The AICPA (American Institute of Certified Public Accountants) is a national organization that sets ethical standards for accountants and auditors of nonprofit organizations, private companies, and governments. Reviews focus on firms’ accounting and auditing practices related to annual non-Security and Exchange Commission (SEC) issues.
The primary requirements of the program are as follows:
- The AICPA oversees the program
- Peer review reports must be conducted by an independent evaluator (such as Haynie & Company)
- An approved entity (usually state CPA societies) must administer the review
- All firms enrolled in the AICPA’s Peer Review Program are required to conduct a peer review once every three years
CONTACT HAYNIE & COMPANY FOR DETAILED PEER REVIEW PROCESS IN SALT LAKE CITY
Whether you’re from a CPA firm in need of an objective third party or the accounting department of a small business, regular peer review improves accuracy and helps you and your company maintain quality standards.
As a full-service CPA firm in Salt Lake City, Haynie & Company helps you stay in control of your finances in numerous ways. Peer review is included in our wide range of professional accounting services to help you get the stamp of approval you need from partner organizations and regulatory bodies.
Our experienced CPAs in Salt Lake City are available for you. Contact the financial professionals of Haynie & Company today at (801) 972-4800, or submit the online form below to schedule an initial consultation.