Vrakas CPAs + Advisors is licensed by the Wisconsin Department of Safety and Professional Services – Accounting Examining Board.
The Wisconsin Administrative Code (which governs the Board) requires our firm to undergo a peer review of our accounting and auditing practice that complies with the “Standards for Performing and Reporting on Peer Reviews” established by the Peer Review Board of the American Institute of Certified Public Accountants (AICPA) every three years.
The peer-review standards require CPA firms to design and comply with a quality control system that reasonably assures that they perform and report in conformity with professional standards. The peer review program’s primary objective is to protect the public interest by improving the quality of services AICPA members provide in public practice.
The peer reviewer may issue one of three opinions on the firm’s quality control system: Pass, Pass with Deficiencies, or Fail. A Pass rating is reported if there are no significant deficiencies or recommendations.
We are proud to have received a Pass rating for our last System Review for the year ended August 31, 2023, and no letter of comments and have received a Pass rating without a letter of comments for all prior peer-reviews since our firm’s inception in 1971.
View our August 2023 Peer Review Results – Vrakas S.C. (Brookfield, Chicago, & Kenosha Offices)
View our August 2023 Peer Review Results – Vrakas Advisors LLC (Kenosha Office)
Our next Peer Review will occur in 2026.
