The AICPA Peer Review Board recently approved an update to peer review standards that aligns them with new quality management standards.
The board will publish Peer Review Standards Update No. 2, Reviewing a Firm's System of Quality Management and Omnibus Technical Enhancements, later this month.
Key changes include revisions to terminology to conform with quality management standards and adaptations to address risk-based considerations.
Firms have until Dec. 15, 2025, to establish a quality management system in alignment with AICPA standards. Read more.