What it is
After a peer review, the reviewer may issue matters or findings for further consideration. The firm responds in writing and may be asked to take corrective or implementation actions. A weak response, such as retraining on one file, can lead to a worse outcome on the next review.
This checklist guides the response: understand each item, find the root cause, write a response that addresses the system and not one engagement, and track follow-up. Form names and response deadlines are set by the administering entity; record them in the checklist. Not an AICPA product.
When to use it
- When the firm receives a matter or finding from a reviewer.
- When drafting the response letter.
- To feed peer review results into SQMS No. 1 monitoring.
What’s inside
- Understanding each matter and finding
- Root cause and extent in other engagements
- Written response content
- Corrective actions, evidence and follow-up
Standard cited
This template follows AICPA Peer Review Standards / SQMS No. 1. It is written in our own words, except for phrases the standard requires the document to contain, with [bracketed placeholders] for client details, amounts in USD and dates as MM/DD/YYYY. Check it against the current standard and your firm’s methodology before use.
Questions
Can the firm disagree with a reviewer?
Yes. Explain why in the response, with the facts. The report acceptance body evaluates whether the firm’s responses appear comprehensive, genuine and feasible.
What makes a good corrective action?
It is specific, assigned to a named person, addresses the root cause, has a due date and leaves evidence such as CPE certificates, a revised policy or reviewed files.
Does a peer review result affect the SQMS No. 1 evaluation?
They can. SQMS No. 1 treats a peer review as an input to monitoring and notes that peer review findings and deficiencies are defined differently from findings and deficiencies under SQMS No. 1, so the firm evaluates them through its own monitoring and remediation process.
Related templates
- Peer Review Readiness Checklist
- SQMS No. 1 Monitoring and Remediation Checklist
- SQMS No. 1 Annual Evaluation Checklist
- Peer Review Preparation Checklist: System Review
Last updated 11/05/2026. All free templates.