LIVINGSTON, NJ — Richard Hoffman, CPA/CGMA, member and director of the firm’s audit department and in charge of the peer-review and quality-standard programs for the Livingston-based accounting firm Levine, Jacobs & Company, L.L.C. www.ljcpa.com, formally announced that the firm has successfully passed its peer review, without exception.
In 1988, the members of the American Institute of Certified Public Accountants (AICPA) overwhelmingly approved a proposal that requires AICPA 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.
Peer review helps assure users of CPA services that their CPA firm measures up to the profession’s high standards of professionalism and is committed to improving the quality of its practice.
Peer review also provides a mechanism for a firm to engage a peer firm to review its system of quality control related to its application of professional accounting, auditing and attestation standards. The AICPA Peer Review Program is important because it strengthens member firms’ quality control and encourages firms to improve processes and correct any shortcomings.
Peer review enhances the quality of the profession and contributes to the public’s confidence in the profession.
Levine, Jacobs provides a unique combination of twenty-first century accounting, business consulting and financial planning services to a diverse array of clients.
The firm prides itself on its teamwork abilities where “every account receives the talent and expertise of the whole firm.” Levine, Jacobs & Company, L.L.C. maintains memberships in the American Institute of Certified Public Accountants and the New Jersey Society of Certified Public Accountants.