Since 2003, Macquarie University has operated a peer-assisted learning (PAL) program in several accounting units. This paper presents the results of a qualitative assessment of that program. The data were collected via a series of focus groups with student participants and student leaders involved in the peer-assisted learning program. The focus group discussions were transcribed and analysed. The results suggest that peer-assisted learning at Macquarie generates significant academic and non-academic benefits for all those involved. The analysis did, however, reveal a number of ways in which the program could be improved. Two areas stand out in this respect: first, it is essential that the program is suitably supervised by relevant academic staff. Second, the quality of the training given to PAL leaders is crucially important.