review of the work of one CPA or CPA firm by another CPA or CPA firm. The purpose of peer review is to assure that quality controls are being applied in conformity with AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS (AICPA) Quality Control Standards. The review process includes looking at working papers and accounting procedures followed. Mandatory peer review applies to a CPA firm's accounting and auditing services but not to tax and management advisory services. The following is involved in the peer review process when appraising a CPA firm's quality control policies and procedures: (1) reviewing each organizational or functional level within the firm; (2) reviewing selected engagement working paper files and reports; and (3) reviewing documentation indicating the firm's compliance with membership requirements. At the completion of the peer review, the reviewer discusses the findings with the reviewee and issues a report. Sanctions may be imposed on deficient CPA firms including continuing professional education (CPE) training, censures and reprimands, fines, and suspension from membership.