AICPA Facilitated State Board Access Program
Oregon participates in the American Institute of CPAs (AICPA) Peer Review Facilitated State Board Access (FSBA).
What is Facilitated State Board Access?
It is a process that the AICPA has created to help the profession keep up with the evolving changes in the business and regulatory environments and to address the demand for greater peer review transparency.
What This Means for Your Firm
The Facilitated State Board Access process uses the existing peer review process to facilitate the voluntary disclosure of peer review results to State Boards of Accountancy (BOAs).
How Will Facilitated State Board Access Benefit My Firm?
The goal of this process is to create a nationally uniform system through which CPA firms can satisfy state board peer review information submission requirements, increase transparency, and retain control over their peer review results. The AICPA and CPA state societies are working together to allow this process to become the primary means by which all (BOAs) obtain peer review results. Over time, this process will help to make submission of your firm’s peer review information easier.
Why Facilitated State Board Access?
After carefully evaluating the various options, stakeholders determined that the best way to address the user demands for greater peer review transparency, while considering member and state CPA society concerns, was to use the existing peer review process to facilitate the voluntary disclosure of peer review results to BOAs. Some BOAs, including Oregon, require participation in FSBA by firms. The intent of this process is to create a nationally uniform system through which CPA firms can satisfy state board peer review information submission requirements, increase transparency, and retain control over their peer review results.
The AICPA and state CPA societies are working together to allow this process to become the primary means by which all BOAs obtain peer review results. Over time, this new process will help to make submission of your firm’s peer review information easier. Please refer to the FAQs for additional information on this process.
How Does This Process Work?
The process allows peer review results to be made available to select BOAs on a voluntary firm basis, using a secure, BOA access-only website available only to authorized state board representatives. Firms that are not members of the AICPA Employee Benefit Plan Audit Quality Center, Governmental Audit Quality Center, or Private Companies Practice Section will be given the opportunity to opt out of the process in some states. Below are the details of how the process works.
In Oregon, the process entails:
- Oregon OAR 801-050-0040(2) states that all firms are required to participated in the AICPA Facilitated State Board Access (FSBA) program. Therefore, the firm's peer review results will be available via a secure Oregon BOA website upon acceptance.
- During the scheduling process, firms will be provided the opportunity to select additional BOAs for expanded access, so long as the BOAs require peer review and are not prohibited from obtaining access to peer review information.
When can I expand access to other BOAs?
When scheduling a peer review, firms will be provided the opportunity to select additional BOAs to receive expanded access. A Firm may also expand access to additional BOAs at any time. Please contact OSCPA staff to do so.
What documents will be posted under this process?
The number of documents posted to the secure BOA website for a firm varies based upon the results of the peer review. A firm will not choose which documents will be posted as each of those that are applicable (based on the results of the review) will be posted. It is important to note that unless a firm opts out, which is not available in Oregon, all applicable documents will be posted even if it is not a state requirement.
The following documents will be posted to the secure BOA website, as applicable:
- Peer review report
- Letter of response
- Acceptance letter
- Letter(s) signed by the reviewed firm indicating that the peer review documents have been accepted with the understanding that the reviewed firm agrees to take certain corrective actions
- Letter(s) signed by the reviewed firm indicating that the firm has agreed to additional corrective action(s) requested by the peer review committee
- Letter notifying the reviewed firm or individual that certain required actions have been completed and the due date of the firm's next peer review
Additional information available on the secure BOA website:
- Notice if the firm’s enrollment in the program has been dropped or terminated.
For Additional Information or Questions
Contact Phyllis Barker, 503-597-5472 / 800-255-1470, ext. 127; firstname.lastname@example.org