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About peer review
The peer review program is dedicated to enhancing the quality
of accounting, auditing and attestation services performed by
CPAs in public practice. Through peer review, a CPA firm engages
a peer firm to review its quality control system for compliance
with professional accounting, auditing, and attestation
standards. At the conclusion of the review, the reviewer issues
a report with an evaluation of the firm's compliance with
standards.
In addition to issuing a report, peer reviewers provide
valuable feedback. CPAs use this feedback to enhance the quality
of their practice.
MNCPA and Minnesota BOA requirements
- The MNCPA requires all members whose firms are engaged in
public accounting in Minnesota to enroll in the peer review
program.
- Only firms that perform attest and/or compilation
engagements must have a peer review. Peer reviews ordinarily
takes place every 3 years.
- The BOA requires all firms that issue attest or
compilation reports to have a peer review
The Minnesota requirements related to reviews (called “quality
reviews” in Minnesota rules and statutes) are found in the
Minnesota rules 1105.46 to 1105.55.
Information for firms
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Peer review process step-by-step
Step-by-step instructions on how to complete your peer review.
Includes scheduling information, how a review is conducted, and
submitting the results to the BOA.
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Firms that perform peer reviews
Firms need to make arrangements with the peer reviewer
directly. Find out who's qualified in Minnesota.
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Forms and fees
Download forms required for the peer review process and find out
about associated costs.
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Frequently asked questions
Answers to questions on how to select a peer reviewer, the types of
peer reviews, the peer review process, and more.
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Become a peer reviewer
Peer reviewers serve the profession by promoting quality.
Performing peer reviews can also become a
niche practice area.
» Learn more
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