The highest rating from an AICPA Peer Review is ‘Pass,’ and in two rounds of rigorous examinations, it’s the only designation Selleck Accounting & Financing has experienced.
“To receive a report of PASS for the second-ever time in a row,” Kilgore-based CPA Elsa Selleck says, “it means that not only am I doing my job as an auditor, but I’m doing my job right.”
The rating is a practical, objective signal a firm adheres to high standards for the quality of its accounting and auditing output.
While taxes and bookkeeping can be taken on by anyone ready to hang their shingle, the essential Assurance Services – audits, reviews, compilations – can only be performed by a Certified Public Accountant. It carries the responsibility that CPAs submit to a national peer review, ensuring they pass muster of a fellow CPA-auditor who performs a deep dive into workpapers for audits.
Today, the peer review process aims to eliminate CPAs who simply collect fees without performing the necessary work, essentially just signing off on opinions, which unfortunately still happens nowadays. Having another CPA reviewing the work is key, ensuring clients can truly rely on their CPA’s skill and integrity.
“There are 3 ratings, PASS (which is the highest), Pass with deficiencies, and fail,” Selleck said. “I’ve gotten PASS both times, since I opened the firm in June 2020, right in the middle of the COVID pandemic.
“I’m always going to ensure my work is top-notch. My clients count on my expertise. That’s why you call a professional.”
The Peer Review Committee of the Texas Society of CPAs notified Selleck in mid-June of their acceptance of the 109 S. Martin St. firm’s most recent System Review.
“As you know, the report had a peer review rating of pass. The Committee asked me to convey its congratulations to the firm.”
For more information, visit SelleckCPA.com
