Firm News

To our valued clients;

The shareholders and staff of Smith Marion & Co, An Accountancy Corporation, are pleased to announce the successful completion of an independent peer review of it 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.

In 1988, the members of the AICPA overwhelming approved a proposal to require members in public practice 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 or any other.  Our participation in peer review demonstrates our firm’s desire to measure up to the profession’s high standards of professionalism and our commitment to maintaining and improving the quality of our practice.

In addition, the Fourth General Standard of Government Auditing Standards (the Yellow Book) requires an external control review (Peer Review) be conducted every three years.

Our peer review was conducted by Farber Hass Hurly, LLP a CPA firm based in Granada Hills.  The reviewers determined that was have an adequate quality control system, and then checked to see that professional standards were followed in a representative sample of our accounting and auditing engagements.

After a through study of our polices and procedure, the reviewer concluded our firm complies with the stringent quality control standards established by the AICPA.  Our firm is committed to periodic peer reviews to foster quality performance.  This link will take you to a copy of the most recent results of the review.

Sincerely,
 

Smith Marion & Co