Peer Review Process Step-by-Step

Enrolling in the peer review program

The MNCPA requires all firms engaged in public accounting to enroll in the peer review program. However, only those firms that perform attest and/or compilation engagements need a peer review performed every three years and must pay enrollment and evaluation fees. 

Non-AICPA Enrollment form (PDF)
AICPA Enrollment form (PDF) 

For more information, contact Jill McGuire, Peer Review Coordinator, at 952-885-5542 or by e-mail.

Scheduling the peer review

Firm receives scheduling form
The MNCPA sends out a peer review scheduling form to firms enrolled in the AICPA Peer Review program. The form is sent six to nine months prior to the firm's peer review due date. 
Scheduling form (PDF)  

Firm arranges the review
The firm contacts a peer reviewer to make arrangements for the review. Only firms approved by the AICPA as peer reviewers may be used.
Firms that perform reviews
How to select a review firm 

Firm completes scheduling form
The scheduling form must be fully completed by the firm and returned to the MNCPA office. If the firm does not immediately have complete information about the peer review team (such as the names of the team members), the firm may submit the scheduling form without this information. The team information should be submitted as soon as available but within 30 days of receipt by the MNCPA.

MNCPA verifies peer reviewer qualifications
The MNCPA will enter the information into the electronic peer review system, which will determine if the peer reviewer is qualified to perform the review. If the reviewer is qualified, an approval letter is sent to the firm and the peer reviewer authorizing the peer review to take place. A peer review cannot be performed without the approval letter stating the peer reviewer is qualified.  

Review commences
After approval is received, the firm works directly with the reviewer to complete the peer review.

Peer review approval process

Peer reviewer completes the review
The peer reviewer submits peer review documents to the MNCPA at the completion of the review. The reviewed firm must submit copies of the report and letter of response only if the firm receives a rating of pass with deficiencies or fail.

Technical review begins
The review is sent to a technical reviewer, at which time an evaluation fee is charged to the firm. The technical reviewer evaluates whether the review was conducted in accordance with AICPA standards, and may also make recommendations for follow-up action for the reviewed firm.

Report goes to RAB for discussion
When the technical review is complete, the report is ready to go the Peer Review Committee Report Acceptance Body (RAB) for discussion.

  • Each RAB consists of eight to 10 volunteer MNCPA members with peer review experience, along with two technical reviewers.
  • The RAB reviews documents related to the peer review.

Review is accepted or follow-up action is required
The RAB votes to accept the review or may request follow-up action if deficiencies have been noted.

  • If the review is accepted, the firm will be notified by the MNCPA. It can then submit the approved documents to the Board of Accountancy as required under Minnesota Rules.
  • If follow-up action is requested, the firm is sent a letter outlining the required action; a signed commitment to complete the action is required. The firm must also notify the MNCPA when the action has been completed, so the review can go back to the RAB for approval.

Submitting the review to the Minnesota BOA

The following documents must be submitted to the Minnesota BOA after RAB approval:

  • The RAB acceptance letter
  • The peer review report
  • Letter of response, if applicable
  • Letter of follow-up action, if applicable

Minnesota Board of Accountancy
85 E. 7th Place, Suite 125
St. Paul, MN 55101-2143
Phone: 651-296-7938
Fax: 651-282-2644 

Facilitated State Board Access
The documents listed above will also be uploaded to a secure website accessed only by authorized members at the Minnesota BOA.

View the FSBA FAQ 


For more information, contact Jill McGuire, Peer Review Coordinator, at 952-885-5542 or by e-mail.

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