9. April 2012 10:19
What this blog really should be titled is, “Peer Review – Is Your Firm Ready & Do You Know about the Washington State Board of Accountancy Changes?”
What stays the same is that the Washington Society of CPAs (WSCPA) will continue to serve as the administering entity for the AICPA Peer Review Program in this state and it will continue to administer the WSCPA Peer Review Program.
What changes is the Washington State Board of Accountancy (SBOA) requiring all firms issuing audit reports on financial statements, performance audit reports, or examination reports on internal controls for nonpublic enterprises to participate in a board-approved peer review program administered by the American Institute of CPAs or the Washington Society of CPAs.
Here is another change coming; the Washington State Board of Accountancy is in the process of shutting down its Quality Assurance Review (QAR) program. The goal is to close up the QAR program as of December 31, 2012. The Board is still working on making this change. If not this year, it’s a sure bet it will be next year.
If you are looking to enrolll your firm or interested in becoming a Peer Reviewer please contact Julie Phipps at firstname.lastname@example.org. She will be glad to help you with all of your Peer Review needs.
Either way, you will want to be prepared for your firm’s next peer review. Here is link to a live course the WSCPA is providing on June 12, 2012, SNPR - Upcoming Peer Review: Is Your Firm Ready?