CRI IS A MEMBER OF THE SEC PRACTICE SECTION OF THE AICPA
Carr, Riggs & Ingram, LLC (CRI) is a member of the AICPA's Center for Public Company Audit Firms (formerly the SEC Practice Section). The AICPA Peer Review program is an educational and remedial program designed to help firms improve or maintain the quality of their accounting and/or auditing practice. A peer review is an outside review of a firm's quality control system in accounting and/or auditing and is conducted every three years. There are three types of peer reviews:
System Reviews
Firms that perform audits or reviews have a system review because of the public interest in the quality of engagements covered under a system review and the importance to the accounting profession of maintaining the quality of those services. The objectives of a system review are to provide the reviewer with a reasonable basis for expressing an opinion on whether, during the year under review:
* The reviewed firm's system of quality control for its accounting and auditing practice has been designed in accordance with quality control standards established by the AICPA.
* The reviewed firm's quality control policies and procedures were being complied with to provide the firm with reasonable assurance of conforming with professional standards.
Engagement Reviews
An engagement review is available to firms that do not perform engagements under Statements on Auditing Standards (SASs) or examinations of prospective financial statements under the Statements on Standards for Attestation Engagements (SSAEs) but that do perform reviews or compilations of financial statements under Statements on Standards for Accounting and Review Services (SSARS).
Report Reviews
A report review is available to firms that only perform compilations under Statements on Standards for Accounting and Review Services (SSARS) where the firm has only compiled financial statements that omit substantially all disclosures required by accounting principles generally accepted in the United States.
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