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We are pleased to announce the successful completion of an independent peer review of our accounting and auditing practice. This review was undertaken as a condition of membership in the American Institute of Certified Public Accountants (AICPA), the national organization of CPAs in public practice, industry, government, and education. Our firm has passed our peer reviews for every year of our existence. We are also a member of the Employee Benefit Plan Audit Quality Center (EBPAQC). This review fulfills our EBPAQC membership requirement for an annual review.
In 1988, the members of the AICPA overwhelmingly approved a bylaw amendment to require members who are active in the practice of public accounting to participate in a practice monitoring program. With the adoption of this proposal, the AICPA implemented a peer review program of unprecedented scope in the CPA profession. Our participation in peer review demonstrates our firm’s desire to meet the profession’s highest standards of professionalism and our commitment to maintaining and improving the quality of our practice.
The reviewers first determined that we have an adequate quality control system. They then verified that professional standards were followed in a representative sample of our accounting and auditing engagements. After thorough study of our policies and procedures, the reviewers concluded that our firm’s system of quality control for the accounting and auditing practice in effect for the year ended June 30, 2014, has been suitably designed and complied with to provide reasonable assurance of performing and reporting with applicable professional standards in all material respects.
Our firm is committed to periodic peer reviews to foster quality performance. If requested, the firm will provide a copy of the report on the results of the review to all interested parties.
Bankers, bonding agents, investors, suppliers, legal advisors and others use the financial statements our firm audits, reviews, or compiles. We think those people, our clients, and our staff, deserve independent assurance that our firm provides quality services. We are proud of our peer review results and would be happy to answer any questions you might have.
Lanigan, Ryan, Malcolm & Doyle, P.C.