Peer Review

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. A CPA firm engages a peer firm to review and evaluate the design of its system of quality control and compliance with it (a System review) or to evaluate whether reviewed engagements are performed and reported on in conformity with applicable professional standards in all material respects (an Engagement review). The type of the review depends on scope of engagements performed by the reviewed firm. At the conclusion of the review, the reviewer issues a report assigning the firm a grade of Pass, Pass with deficiency, or Fail.

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, and who perform services within the scope of the AICPA practice monitoring standards, to enroll in the peer review program.
  • Peer reviews ordinarily take place every three years.
  • The BOA requires all firms that issue attest or compilation reports to have a peer review

The Minnesota requirements related to peer review are found in the Minnesota rules 1105.46 to 1105.55.

Information for firms

Using PRIMA
PRIMA is the Peer Review Integrated Management Application, a web-based, interactive system used by all parties in the peer review process. Use of PRIMA is required for all reviews.

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.

Firms that perform peer reviews
Firms need to make arrangements with the peer reviewer directly. Find out who's qualified in Minnesota.

Peer Review Fees
Find out about associated costs of the Peer Review Program.

Frequently asked questions
Answers to questions on how to select a peer reviewer, the types of peer reviews, the peer review process, and more.

Become a peer reviewer

Peer reviewers serve the profession by promoting quality. Performing peer reviews can also become a niche practice area.
Learn more 

Questions?

For more information, contact Sabine Anderson, Customer Service Coordinator, at 952-885-5514 or sanderson@mncpa.org.