Performance Indicators and Internal Budget Controls Like

¶ … performance indicators and internal budget controls like reviewing staff hours can be used to assess individual and organizational accountability. Strict AICPA standards are required for the peer-review process. In addition, internal budget controls are also effective performance indicators.

The American Institute of Certified Public Accountants (AICPA) has published extensive and strict guidelines regarding the CPA peer review process (AICPA). The standards for membership in the AICPA are strict, "to retain their membership in the American Institute of Certified Public Accountants (AICPA) members of the AICPA who are engaged in the practice of public accounting in the United States or its territories are required to be practicing as partners or employees of firms enrolled in an approved practice-monitoring program..."

In accordance with the AICPA standards, the firm will chose a single, qualified CPA from a list provided by the AICPA to conduct a peer review. This person will review working conditions, including interviews regarding current issues on tax or accounting-related matters. This peer-review process will also ensure that all firm employees continue further education.

Internal budget controls are also important performance indications within a CPA firm. These controls go beyond the peer-review process, and include a number of measures designed to improve employee efficiency.