Professional Organizations
Peter Shannon & Co. is a member of the American Institute of Certified Public Accountants (AICPA) and the Illinois CPA Society. Our professional staffs are also licensed and/or registered to conduct business in Illinois and other states.
The American Institute of Certified Public Accountants (AICPA)
The AICPA is the national, professional organization for all Certified Public Accountants. The AICPA requires its members to obtain a minimum of 40 hours of relevant training each year. Through such continuing education, our professional personnel receives sufficient training to meet the requirements set forth by the ever-changing accounting profession and by government regulations.
The Illinois CPA Society
The Illinois CPA Society is one of the largest state CPA society in the nation. It is the only professional organization that represents CPAs in Illinois. During its over 100 years of existence, the Society has advanced the highest ethical and financial standards of the profession, and has been a leader in educating the public on financial issues. Our firm and accountants are members of Illinois CPA Society.
The Public Company Accounting Oversight Board (PCAOB)
The PCAOB is a private-sector, non-profit corporation, created by the Sarbane-Oxley Act of 2002, which came in the wake of a series of corporate financial scandals, to oversee the auditors of public companies in order to protect the interests of investors and further the public interest in the preparation of informative, fair and independent audit reports. We commit to conducting our practice in accordance with the highest standards of ethics and professionalism.
Employee Benefit Plan Audit Quality Center (EBPAQC)
The AICPA has established the Employee Benefit Plan Audit Quality Center, a firm-based voluntary membership center for CPA firms like us that audit employee benefit plans to perform quality audits in this unique, challenging and complex subject.
AICPA Peer Review Program
The AICPA requires a public accounting firm to receive a peer review of its quality control system every three years. Since the inception of the AICPA Peer Review Program, every peer review concluded that we have been in compliance with the AICPA standards.
