CalCPA peer review extension to report results to the CBA.

• Position: News&trends - Financial report

Act now: Extension available until July 31

ALL California individual Licensed CPAs, CBA licensed partnerships and CBA licensed corporations have additional reporting requirements to the CBA under the mandatory peer review law that became effective Jan. 1, 2010. For firms and licensees with a license number ending in 01-33, the information must be reported to CBA no later than July 1, 2011. However there is an extension process available, detailed below. If accounting and/ or auditing reports are issued under the individual licensee number or firm number, then the entity must also report its peer review results.

The form that firms must complete and send to the CBA asks for the acceptance date of the peer review. Once a peer reviewer completes and submits a peer review it takes two to four months for technical review and committee acceptance...