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SECPS

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AcronymDefinition
SECPSSecurities & Exchange Commission Practice Section (of the AICPA)


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was guilty of failing to comply with SEC Practice Section membership requirements and failing to cooperate with the SECPS Peer Review Committee.
Firms with clients filing periodic reports with the Securities and Exchange Commission, excluding certain brokers or dealers, enrolled in the SECPS Peer Review Program; other firms could choose between SECPS and the AICPA Peer Review Program.
In 1989, the AICPA membership's endorsement of the Plan to Restructure Professional Standards, based on the Anderson committee recommendations, allowed a change in AICPA bylaws to require that all members who audit publicly held companies work for a firm that belongs to the SECPS.
 
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