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Peer Review Change 2020

AICPA made some changes to their PRIMA software to allow firms to share some additional information with the state accountancy board.  Data that can now be shared:
 

  • The firm’s original due date
  • The firm’s current due date. If an extension has been approved by the AE, the extended due date will be displayed and the letter documenting that approval will be made available. This value will be updated, and additional letters provided if additional extensions are granted
  • The date the scheduling of the review was approved by the AE If changes are made by the firm that require re-approval by the AE, the most recent approval date will be displayed
  • The date the firm’s review is expected to commence. If the firm or the reviewer makes updates to this date, the most recent value will be displayed
  • The date the review was presented (or is currently scheduled to be presented to be presented to) a Report Acceptance Body (RAB) or was accepted by a Technical Reviewer, if applicable


These changes were made at the request of reviewers and state boards.  By sharing this information your firm can avoid calls from the accountancy board as they try to find out where in the process you are.  You are also not required to share this information.  If you choose to share the information the link below will take you to instructions on how to do this. 

 

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