about peer review

In case of peer review, icai select some ca firms and make audit of them by another ca firm.

u will learn it in ca final

Peer Review means review of work of one professional by another of same standing.

Once a Practice Unit is selected for review, its attestation engagement records pertaining to the immediately preceeding 3 completed FYs shall be subjected to review.

An individual serving as a reviewer shall be a member, possess atleast 15 experience of audit and be currently active in the practice of accounting & auditing.

PU has to produce any documents/records specified by the reviewer.

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Peer Review