CPA firms are required to have a peer review every three years. The peer review is generally conducted by another CPA that is independent and certified by the American Institute of CPAs and state accounting boards. The peer review process helps to monitor a CPA firm’s accounting and auditing practice and the goals of peer review include confirmation that the standards of the accounting profession are being followed and to ensure quality in the accounting and auditing services that a CPA firm provides.
There are two types of peer reviews: Engagement Reviews and System Reviews. The less intensive Engagement Reviews are conducted off site. Schulte & Company CPAs Inc. receives the more complex System Review that is conducted on site by another independent CPA. The findings of Review are forwarded to the Ohio Society of CPAs and the American Institute of CPAs who then issues its findings.
Consistent with prior periods, Schulte & Company CPAs Inc. passed its most recent peer review without exception.
Sophie Veillette leads the accounting and auditing practice at Schulte & Company CPAs Inc.