Peer Review

Peer Review program information and details

About Peer Review

March 20, 2020

Coronavirus Impact on Peer Review

The OSCPA Peer Review Team recognizes the potential impact of travel restrictions and health concerns due to the coronavirus (COVID-19) pandemic on upcoming peer review due dates. Our top priority during this time is the health, safety and welfare of firm personnel and peer reviewers. As such, we are operating with an abundance of caution and will consider all factors in advising firms and peer reviewers of the options available to them with regard to upcoming peer review deadlines. Please contact the OSCPA Peer Review Team at peerreview@orcpa.org or 503-641-7200 / 800-255-1470, option 5 to discuss your specific situation.

The OSCPA administers the AICPA Peer Review Program in Oregon, Hawaii, Guam, and Northern Mariana Islands. In addition, the OSCPA contracts with the Oregon BOA to administer the OSCPA Peer Review Program for licensees who are not members of the AICPA.

To Enroll in Peer Review

PRIMA (Peer Review Integrated Management Application) is a web-based system for administering and tracking peer reviews. All peer review information and documents will be managed within PRIMA.

PRIMA sends electronic notices when there is an action to be taken by the firm or information is being shared with the firm. Please add prima@aicpa.org to your safe senders and respond timely to requested actions.

If you have a new firm, please complete a Public Accounting Firm Creation Form.

An AICPA login is required. If you do not have an AICPA.org/CPA.com account, the Getting Started in PRIMA guide will walk you through the process.

If you have an AICPA login, you may access PRIMA to enroll your firm. Click on “For Firms” located on the top-right of the screen and then the orange button “Enroll/Update PRI."

The firm’s initial peer review due date is 18 months from the date of enrollment or from when the firm should have enrolled.

For training and more information on PRIMA, click here.

Peer Review Requirements

The Peer Review Program is an educational and remedial program designed to help you improve the quality of your practice. OSCPA administers the peer review program according to AICPA standards. In this function, we serve as a resource by assisting your firm in scheduling a review, selecting a reviewer, and finalizing your firm's report through the committee acceptance process.

An accounting and auditing practice for the purposes of these standards is defined as all engagements covered by Statements on Auditing Standards (SASs); Statements on Standards for Accounting and Review Services (SSARS)2 (see interpretations); Statements on Standards for Attestation Engagements (SSAEs); Government Auditing Standards (the Yellow Book) issued by the U.S. Government Accountability Office; and audits of non-SEC issuers performed pursuant to the standards of the Public Company Accounting Oversight Board (PCAOB).

Hawaii

Every firm, including the Hawaii offices and Hawaii engagements of foreign or multi-state firms, that is required to obtain a firm permit to practice pursuant to section HRS 466-7 shall have a peer review every three years. The firm’s Hawaii offices, if any, and Hawaii attest engagements shall be included in the scope of the peer review performed in accordance with the AICPA peer review standards.

Upon completing a peer review, each firm is required to submit a Peer Review Compliance Reporting Form to the Hawaii Board of Public Accountancy within 30 calendar days of receipt of the notice of completion from the sponsoring organizations, along with other required documents identified in HRS 466-38.

Oregon

All firms that perform attest or compilation services in Oregon, or for Oregon clients, are required to participate in an approved peer review program as a condition of registration under ORS 673.160 and for each renewal period. A firm must send proof of enrollment and the date for its initial peer review to the Oregon Board of Accountancy before the first report is issued. For details, visit the Oregon Board of Accountancy.

Per Oregon Administrative Rules (OAR) 801-050-0040(2) all firms are required to participate in the AICPA Facilitated State Board Access (FSBA) program. For information on FSBA click here.

The membership bylaws of the AICPA require participation in a practice-monitoring program as a condition of membership. Should all owners/partners of a firm cease to be members of the AICPA, the firm will automatically be un-enrolled from the AICPA Peer Review Program. At that time, the firm should contact OSCPA staff.

Scheduling a Review

When planning and scheduling a peer review, firms should ensure that the peer review will be completed prior to the due date. The exit conference date must be scheduled to occur at least two weeks prior to the due date. For example: If a firm has a due date of September 30, the exit conference date should be no later than September 16.

It is the firm’s responsibility to ensure its peer review is completed timely. Failure to do so may result in the firm being deemed non-cooperative. Allowing sufficient time to complete the peer review well in advance of the due date will help ensure the review is completed timely. Many factors such as illness, loss of staff, weather, etc. may delay the commencement of a review and could cause the review to be submitted late.

Want to Learn More About Peer Review?

For more information on the Peer Review Programs, contact Darlene Boles at: 503-597-5470 / 800-255-1470, ext. 117 or peerreview@orcpa.org