Membership
Requirements
Bylaw Article
II - Section 5
Any
member who
engages in
the practice
of public
accounting
must, either
individually,
if a sole
proprietor,
or through
the sole-proprietorship,
the partnership
or professional
corporation
by which
he or she
is employed,
be enrolled
in the Society-administered
practice
monitoring
program established
in accordance
with the
standards
of and approved
by the American
Institute
of Certified
Public Accountants'
Quality Review
Executive
Committee,
or its successor.
The Society's
Board of
Directors
shall be
empowered
to set the
applicable
fees and
to establish
the procedures
governing
the practice
monitoring
program.
Any program
participant
delinquent
in payment
of the applicable
fees for
more than
120 days
shall be
dropped from
the program.
Individually
or through
their firms,
members may
reapply for
participating
in the program
after having
withdrawn
for any reason
or having
been dropped
from the
program,
upon payment
of past annual
enrollment
fees up to
a maximum
of three
times the
annual amount.
Annual Enrollment
Fee
- Sole practitioners – $180
per year
- 2-5 professionals – $255 per
year
- 6-10 professionals – $330
per year
- Over 10 professionals –
$405 per year
Firms will receive an
invoice for the annual fee each February. Firms failing
to pay the fee will be dropped from the AICPA and the Society.
Employees of firms dropped from the peer review program
will not be eligible for membership in the AICPA or the
Society.
Annual Confirmation
for Firms with No Accounting or Auditing Engagements
A
firm that
does not
perform audit,
review or
compilation
services
will not
be required
to have a
peer review
if the firm
annually
confirms
it does not
perform any
audit, review
or compilation
services.
Acceptance
by State Board
Through
legislation
in 1988,
Louisiana
was the first
state to
assure only
one level
of review.
The Society's
Peer Review
Program will
be acceptable
to the State
Board for
compliance
with its
positive
enforcement program.
You meet
this requirement
by simply
stating that
you participate
in the peer
review program
on your firm's
annual registration
form with
the State
Board. The
results of
your review
will not
be communicated
to the State
Board.
The only exception to this approach is if your
firm is already under investigation by the State Board for
quality or reporting deficiencies that were discovered through
the positive enforcement program or by other means. In these
rare cases firms will still have to submit sample reports
or other information to the State Board as well as participate
in the Peer Review Program.
Peer
Review Enrollment Form
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Certified Public Accountants
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