Chicago, IL, February 24, 2014
Robert Tiberi, CPA, Managing Partner of Legacy Professionals LLP, announced today that Legacy Professionals LLP has successfully completed a rigorous peer review of its accounting and auditing practice. The reviewer(s) concluded that the firm complies with the stringent quality control standards set by the American Institute of Certified Public Accountants (AICPA), the national professional organization of CPAs.
Legacy Professionals participates in the AICPA Peer Review Program, one of the AICPA-approved practice-monitoring programs. A firm participating in any of these programs must have an independent review of its accounting and auditing practice every three years. The review was conducted under the auspices of the Illinois CPA Society following standards issued by the AICPA.
The peer review of Legacy Professionals LLP was performed by an independent CPA firm who qualified under the program's requirements for service as a reviewer. The objective of the peer review is to determine whether a CPA firm has suitable quality control policies and procedures and is complying with them. The Firm's unmodified report indicates that Legacy Professionals LLP measures up to the accounting profession's high standards of quality and professionalism. If requested, the firm will provide a copy of the report on the results of the review to all interested parties.
The AICPA is the national professional association of CPAs with more than 394,000 members, including CPAs in business and industry, public practice, government, education, and consulting. It sets ethical standards for the profession and U.S. auditing standards for audits of private companies, nonprofit organizations, and federal, state, and local governments. It also develops and grades the Uniform CPA Examination.