An independent CPA who conducts audits of entities that receive federal financial assistance has what responsibility related to peer review?

Question

Quizplus · Accepted Answer

According to the Uniform Guidance, an independent CPA conducting audits of entities that receive federal financial assistance must have a peer review at least once every three years. However, AICPA members are required to have a peer review every three years unless they meet certain criteria, in which case they may be eligible for an extended peer review cycle of six years. However, this exception does not apply to audits of entities that receive federal financial assistance. Therefore, option D is the best choice.

An Independent CPA Who Conducts Audits of Entities That Receive