The National Peer Review Committee’s predecessor, the Center for Public Company Audit Firms Peer Review Program (CPCAF PRP), was established on January 1, 2004 as the successor to the SEC Practice Section (SECPS) Peer Review Program.
The CPCAF PRP was designed to review and evaluate those portions of a firm's accounting and auditing practice that were not inspected by the Public Company Accounting Oversight Board (PCAOB) (i.e., the non-SEC issuer practice) so firms can meet their state licensing, federal regulatory