Peer Review

Beginning In 2008, All CPA Firms Who Provide Any Compilation, Review or Attest Services Must Be Enrolled In Peer Review

Are you aware that Missouri Accountancy Law requires that firms that provide attest, review, or compilation services must be enrolled in an approved peer review program? While the requirement has been in effect for those providing three or more attest services since 2004, the law will soon require any firm that provides even one of these services to be enrolled in an approved practice-monitoring or peer review program to ensure firm licensure. The law specifically states that within 90 days after entering into an engagement, a firm must enroll in the program.

To view the specific language related to peer review in the Missouri Accountancy Act, go to:
http://www.sos.mo.gov/adrules/csr/current/
20csr/20c2010-5.pdf

To view information on compliation and review of financial statements, go to:
http://www.mocpa.org/content/files/pdfs/arsec100.pdf

For guidance on implementing SSARS 8, go to:
http://www.mocpa.org/content/files/pdfs/ssars.pdf

For a quick guide to determine if the financial statements you've prepared will be considered a compilation, go to:
http://www.mocpa.org/content/files/pdfs/ssars8.pdf

For more information about Missouri’s peer review program, go to: http://www.mocpa.org/Content/22292.aspx.

To enroll your firm, please complete the enrollment form:
http://www.mocpa.org/content/files/
documents/07enrollment.doc