Peer review sets certified public accountants apart from other professions and tells the public that CPAs are dedicated to upholding the standards of our profession. Find out more about peer review below.
The AICPA requires members who do audits, reviews, compilations or other attest services to have a peer review every three years. In addition, the South Carolina Board of Accountancy requires licensed accountants to have peer reviews and they must submit copies of their firm's peer review letters of acceptance or comment with their bi-annual renewal forms. The letter from the most recent peer review cannot be older than three years from the date of license renewal. more
Annual report on oversight
The South Carolina Association of CPAs Peer Review Committee has instituted a regular oversight program of team captains, reviewers and firms in order to ensure the consistency and quality of reviewer’s work in South Carolina. All reviewers and firms enrolled in the AICPA or SCACPA Peer Review Program are subject to oversight under this program.
New - Peer Review Billing Changes Effective Jan. 1, 2014
In 2013, SCACPA changed its fiscal year-end to July 1. Beginning in 2014, all firms enrolled in the peer review program will pay one annual fee that will include both the annual administrative fee and a prorated scheduling fee (which was heretofore paid once every three years). Your firm will receive one annual invoice for enrollment in the program. You can expect this invoice on or near Aug. 1, 2014. Download the new fee schedule.
Peer Review Q&A
Got questions about the peer review program? This Q&A piece will help you navigate the program.
Do You Have What it Takes to be a Peer Reviewer?
With more than 32,000 firms participating in the Peer Review Program, demand for your skills in this important professional program has never been higher. more