Missouri's CART Program

The MSCPA low-cost CART (Committee Appointed Review Team) program is designed to reduce the review costs by maximizing the efficiency of the reviewer’s time and minimizing reviewer expenses.

Once the Society has received the scheduling information, it will select the number of engagements, the industry and year-end according to AICPA guidelines. Based on the engagements selected, the Society will select a qualified reviewer to perform the review.

A letter will be sent informing the firm which engagements to submit for review. This letter will also include the cost of the review.

Pricing structure for low-cost reviews: Effective for reviews with due dates 5/31/08 or later.

Report reviews -
1 or 2 compilations without disclosures - $575

Engagement reviews -
2 Engagements-non-disclosure comp. & full-disclosure comp. - $750
2 Engagements-non-disclosure comp. & review - $750
2 Engagements-non-disclosure comp. & projection - $750
2 Engagements-non-disclosure comp. & agreed-upon procedure - $750

2 Engagements-review & full-disclosure comp. - $1,000
2 Engagements-review & projection - $1,000
2 Engagements-review & agreed-upon procedure - $1,000

For each additional engagement over 2 engagements, $225 will be added to the cost of the review. For example, a firm that has a review, a full-disclosure compilation, and a non-disclosure compilation will pay $1,025.

The Society requests that the firm submit the engagements and payment within 30 days of receiving the letter. Once the reviewer has agreed to perform the review, the Society will send an engagement letter which needs to be signed and returned as soon as possible. Returning this letter indicates approval of the reviewer. If the reviewer is unacceptable, the Society will work to find an acceptable reviewer.

Included in the engagement letter is notification of additional fees for additional time the reviewer has to spend on the review due to significant deficiencies in the engagements, not being available when the reviewer calls to discuss the findings of the review or not responding promptly to requests made by the reviewer to the firm, for example, additional information regarding the engagement or the Matters for Further Consideration Forms.

The reviewer will then perform the review, contacting the firm with any questions and deficiencies noted. The MSCPA will then send the report and letter of comments (if necessary) requesting a letter of response.