AICPA Peer Review Program Manual Conforming Changes Unless otherwise noted, peer reviewers should adhere to the revised guidance, forms, and checklist for peer reviews commencing on or after January 1, 2014. The following is a summary of conforming changes included in AICPA Peer Review Program Manual (update 00-8 [January 2014]). AICPA Standards for Performing and Reporting on Peer Reviews The following standards for performing and reporting on peer reviews have been conformed to recently approved guidance:  Paragraph .175, of PRP section 1000, AICPA Standards for Performing and Reporting on Peer Reviews.  Illustrative pass, pass with deficiencies, and fail reports (appendices R, S and T) issued in reviews of quality control materials (QCM) were revised to reflect recently revised guidance. Specifically, a new second paragraph has been added that clarifies the following user expectations:  Users should consider the scope of the QCM review.  Users should understand the intended uses and limitations of the QCM as reflected in the QCM’s user instructions and related information, and the level of explanatory guidance provided by the QCM.  Users are responsible for evaluating the suitability of the QCM.  The reliability of the QCM is dependent on the effectiveness of the users’ processes and could vary from user to user. The following interpretations have been added in connection with recent new and revised guidance:     Interpretation No. 40-2 under “Other Planning Considerations” Interpretation No. 42-2 under “Understanding the Firm’s System of Quality Control” Interpretation No. 146-2 under “Publicizing Peer Review Information” Interpretations No 167-1 and 199-1 under “Independent QCM Reviews” The following interpretations have been revised to conform to recently approved guidance:  Interpretation No. 40-1 under “Other Planning Considerations”      Interpretation No. 42-3 (formerly 42-2) under “Understanding the Firm’s System of Quality Control” Interpretation No. 67-1 under “Concluding on the Review of an Engagement” Interpretation No. 83-3 under “Determining the Cause for a Finding in a System Review” Interpretation No. 146-1 under “Publicizing Peer Review Information” Interpretation No. 176-1 under “Independent QCM Reviews” Report Acceptance Body Handbook The following chapters and exhibits in the Report Acceptance Body (RAB) handbook have been revised to conform to recently approved guidance:      Chapter 4, guidance on determining when and what type of corrective action(s) or implementation plans to require on system reviews. Exhibit 4-2 in chapter 4. Chapter 5, guidance on reviewing and evaluating engagements and other documents and guidance on determining when and what type of corrective action(s) or implementation plans to require on engagement reviews. Exhibit 5-2 in chapter 5. Chapter 8, guidance on appeals to the board and reviewer performance issues. Conforming Changes Made to Other Sections of the AICPA Peer Review Program Manual The following sections of the AICPA Peer Review Program Manual also have been revised to conform to recently approved guidance:            PRP section 3100, Supplemental Guidance PRP section 3200, Peer Review Alerts PRP section 4100, Instructions to Firms Having a System Review PRP section 4250, Examples of Deficiencies and Case Studies on Writing Deficiencies on System Reviews PRP section 4300, Quality Control Policies and Procedures Documentation Questionnaire for a Sole Practitioner With No Personnel PRP section 4400, Quality Control Policies and Procedures Documentation Questionnaire for Firms With Two or More Personnel PRP section 4500, Guidelines for Review of Quality Control Policies and Procedures for a Sole Practitioner With No Personnel PRP section 4600, Guidelines for Review of Quality Control Policies and Procedures for Firms With Two or More Personnel PRP section 4800, Summary Review Memorandum PRP section 4900, Team Captain Checklist PRP section 4950, Instructions for Use of Matter for Further Consideration (MFC) Forms for System Reviews        PRP section 6100, Instructions to Firms Having an Engagement Review PRP section 6200, Instructions to Reviewers Performing Engagement Reviews PRP section 6250, Examples of Deficiencies That Might Be Included in an Engagement Review Report PRP section 6400, Engagement Statistics Data Sheet PRP section 7100, Guidance for Association Involvement PRP section 8950, Instructions for Use of Matter for Further Consideration (MFC) Forms for Quality Control Materials Reviews PRP section 10,000, Monitoring Guidance