can some one throw light on peer review .
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about peer review
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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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