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Peer Review

The OSCPA administers the AICPA Peer Review Program in Oregon, 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.

Enrollment in a peer review program is not required as a condition of membership in the OSCPA.

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 in Oregon 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.

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. In addition, there are peer review reporting requirements in Oregon. The details may be found here.

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).

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 enroll in OSCPA Peer Review Program.

To Enroll in the Program

If your firm has an owner/partner who is an AICPA member, please complete the AICPA Peer Review Program Enrollment Form.

If your firm does not have any owners/partners who are AICPA members please complete the OSCPA Peer Review Enrollment Form.

The Peer Review Process

After a firm's enrollment form has been received, a due date for the firm's initial review is assigned. Generally, the due date for the firm's first review is 18 months from the date of enrollment or from when the firm should have enrolled.


Approximately six to nine months before a firm's review due date, OSCPA will send the firm a scheduling packet that must be completed and returned to OSCPA in order for the review to be scheduled. It is the firm's responsibility to choose its own reviewer; however, a firm having an engagement review may request a Committee Appointed Review Team (CART). A list of qualified reviewers in Oregon can be found here, or visit the AICPA Web site for a complete national list. The review should not commence until the firm has received notification from OSCPA that the reviewer has been approved to perform the review.

The Peer Review Standards require that specific types or number of engagements must be selected in a System Review as well as specific audit areas. The specific audit areas are considered “must-select” engagements and should be included in the sample of engagements selected for review or assessed at a higher level of peer review risk. CPA firms should be certain that both the administering entity and the team captain are informed if their practice includes any of the following engagements, whether or not the work has begun on these engagements or if such engagements were issued subsequent to the firm’s prior peer review:

When planning and scheduling a peer review, firms are advised against scheduling the commencement and exit conference dates in the month the peer review is due. The due date is the date all items are to be submitted to the OSCPA Peer Review Program. Allowing sufficient time to complete the peer review well in advance of the due date will help ensure the review is completed in a timely manner . 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.


A firm may request an extension of time to complete its peer review under certain circumstances. See Peer Review Extensions for details.

After the Review

Once the review has been completed, the reviewer will issue a report to the firm. If the firm receives a rating of pass on its peer review, the firm does not need to submit the report to the administering entity. Reports with a rating of “pass with deficiencies” or “fail” should be submitted along with the firm's letter of response within 30 days of receiving the report or by the firm's review due date, whichever is earlier.

Administrative and Technical Reviews

The administrative review ensures that all the required documents from the reviewer and the firm are received and complete. The technical reviewer determines whether the review has been conducted in accordance with governing standards and whether the firm has responded to any matters or deficiencies in an appropriate manner.

Committee Process

Once all of the review documents have been through the administrative and technical review process, they are presented to the Peer Review Committee for consideration of acceptance. After the Committee meets and accepts a review, firms should receive the review acceptance letter from the OSCPA within 14 days. However, some firms may be required to perform certain follow-up actions before the review can be closed. Generally, the firm's next review due date is set three years later.

Types of Reviews

System Review

This type of review is for firms that perform engagements under the Statement on Auditing Standards (SASs,) the Government Auditing Standards (Yellow Book), or examinations of prospective financial information under the Statement on Standards for Attestation Engagements (SSAEs) or audits of non-SEC issuers performed pursuant to the standards of the PCAOB.

In a system review, the reviewer will study and evaluate a CPA firm's quality control policies and procedures that were in effect during the peer review year. This includes interviewing firm personnel and examining administrative files. To evaluate the effectiveness of the system and the degree of compliance with the system, the reviewer will test a reasonable cross-section of the firm's engagements with a focus on high-risk engagements in addition to significant risk areas where the possibility exists of engagements being performed and/or reported on that are not in accordance with professional standards in all material respects. The majority of the procedures in a System Review should be performed at the reviewed firm's office.

Engagement Review

This type of review is for firms that are not required to have a system review and only perform services under SSARS or services under the SSAEs not included in System Reviews.

The objective of an Engagement Review is to evaluate whether engagements submitted for review are performed and reported on in conformity with applicable professional standards in all material respects. An Engagement Review consists of reading the financial statements or information submitted by the reviewed firm and the accountant's report thereon, together with certain background information and representations and, except for compilation engagements performed under SSARS, the applicable documentation required by professional standards.

Administrative Fee

Effective 4/1/2016 through 3/31/2017 the cost of administrative services will be:

System Reviews Engagement Reviews
1 Professional $590 1 Professional $495
2–5 Professionals $690 2–5 Professionals $545
6–10 Professionals $790 6–10 Professionals $595
11-19 Professionals $890 11-19 Professionals $645
20+ Professionals $990 20+ Professionals $695

Additional Fees

A firm that cancels their review after their Information Required for Scheduling Reviews has been received by the OSCPA, but before commencement of the review, is charged a cancellation fee of $100 and the remaining administrative fee is refunded. If a firm cancels their review after the review has started, the administrative fee is not refundable.

  • If the partner or owner is eligible for membership in either the AICPA and/or OSCPA but is not a member of either, there is an additional fee of $300.
  • CART scheduling fee is $150.
  • Reinstatement fee if firm is dropped from program is $500.
  • Technical review fee is $170 an hour, minimum of one hour with maximum of six hours at $1020.
  • Each peer review must undergo an evaluation before being presented to the OSCPA Peer Review Committee for acceptance.

Reviewer Fees and Expenses

There are three review formats available to firms:

  1. Committee Appointed Review Team Review (CART) – If your firm selects an engagement review CART, the arrangements for your firm's review are made by the OSCPA Peer Review staff. The reviewers' fees and expenses are invoiced by the OSCPA when the review working papers are submitted to the OSCPA by the reviewer. The hourly rate for reviewers is $170 per hour. NOTE: Firms will also be charged an additional $150 CART scheduling fee.
  2. Firm-on-Firm Review (FOF) – Your firm may select a qualified firm to perform its review. If your firm is interested in a FOF review, a Directory of Firms Interested in Performing Reviews is available under the resources on the OSCPA Website.
  3. Association Review – If your firm is a member of an association that is authorized by the AICPA to conduct peer reviews, your firm may wish to have the association assign the review team.

If your firm chooses to have a FOF or Association Review, you must provide the OSCPA Peer Review staff with information on the individuals performing your firm's review before starting the review. Your reviewing firm or association will bill your firm directly for any review fees and expenses based on a contract or engagement letter.

Want to Learn More About Peer Review?

For more information on the Peer Review Programs, contact Phyllis Barker at: phone icon 503-597-5472 / 800-255-1470, ext. 127; Leah Moore at 503-597-5474 / 1-800-255-1470, ext. 111. or