The
purpose of peer review is to assure that licensees who perform attest
services are competent to perform those services. Licensees who perform
attest services must participate in an approved peer review program as
required by OAR 801-050-0020(1) and (2). Generally speaking, services
provided by CPAs are either "attest services" or "non-attest services".
Attest services include the following:
- Compilation services (SSARS)
- Agreed upon procedures services (SSAE)
- Assurance services (SAS, SSARS, SSAE)
Assurance services include the following:
- Audit services (SAS)
- Review services (SSARS)
- Examination services (SSAE)
Non-Attest services include:
- Bookkeeping
- Payroll
- Taxes of all types
- Consulting
- Internal control services
Accounting
and auditing engagements for the purposes of peer review are defined as
all engagements covered by: Statements on Auditing Standards (SAS);
Statements on Standards for Accounting and Review Services (SSARS);
Statements on Standards for Attestation Engagements (SSAE); Government
Auditing Standards (the Yellow Book), issued by the U.S. Government
Accountability Office (GAO); and Standards of the Public Company
Accounting Oversight Board in the United States (PCAOB).
In-state
sole practitioners and firms who perform attest, audit, review or
compilation services must register as a firm and must participate in an
approved peer review program.
Out-of-state firms performing
audit and/or examination services for Oregon clients are required to
register with the Board and must participate in a peer review program in
accordance with the minimum standards for performing and reporting on
peer reviews as described in OAR 801-050-0080. Out-of-state firms
performing compilation and/or review services for Oregon clients are not
required to register with the Board.
Please note that effective
January 4, 2017, registered firms are required to participate in the
AICPA Peer Review program (PRIMA). For all peer reviews scheduled on or
after May 1, 2017, the firm must satisfy the document reporting by
allowing the sponsoring organization to provide the Oregon Board access
to the documents via a secure website. The following peer review
programs currently have been approved by the Board:
American Institute of Certified Public Accountants (AICPA)
Peer Review Program (Administered by a State Society)
PO Box 4555
Beaverton OR 97076-4555
503.641.7200 ext. 27
1.800.255.1470 ext 27
http://www.orcpa.org/home.asp
Oregon Society of Certified Public Accountants (OSCPA)
Peer Review Program (Administered by the OSCPA)
PO Box 4555
Beaverton OR 97076-4555
503.641.7200
1.800.255.1470 ext 27
http://www.orcpa.org/home.asp
If you have questions about Peer Review, please contact the Board by email at boa.info@oregon.gov or by phone at 503-378-4181.