PCPS UPDATE.

• Position: Brief Article

Practitioners Symposium

More than 600 CPAs gathered to learn from experts and network with their peers at the May 1999 Practitioners Symposium. They heard about new niche practices, recent tax code revisions that could change public accounting, how to successfully market in a changing environment and more! There was a PCPS members-only cocktail party held at the Heard Museum, complete with Navajo artisans and flute players. In a mock audit report of the PCPS party, one CPA wrote, "In our opinion, the transportation, banquet, music, presentation and related social activities presented fairly the exemplary position of PCPS as of May 25th, 1999, and its libation flows for the evening then happily ended, in conformity with magnificent memorable events, including last year's affair at Caesars and the previous year's gathering at the New Orleans Aquarium."

Next year's symposium will be just as informative and, well yes, fun. Don't miss it.

Peer review receives high marks

Now that the AICPA peer review program has been in place for ten years, PCPS has conducted a survey to ascertain satisfaction with the current program and determine what services and benefits firms think should be added. The survey, sponsored by the PCPS task force on adding value to peer review, represents the opinions of 719 PCPS firms. It revealed that 85% (a majority) of the firms that participate in the peer review program are satisfied with it. The study also found that a large number of respondents would be willing to pay more for additional services and programs that would add value to the review. Specific services that firms indicated they would be willing to pay for include the following:

* An optional review of a firm's tax practice management system.

* An optional, custom-tailored practice management review.

* A publicity kit on peer review for a firm to distribute to clients, bankers and others.

* Firm-specific CPE.

* A national advertising campaign to let the public know more about the peer review process.

Other findings are worth noting. According to the survey, firms that choose on-site reviews have a higher level of satisfaction than those who have off-site reviews. Respondents also said they feel knowledgeable about the objectives and processes of their review programs.

The task force also is leading the charge in informing bankers and referral sources of...