CBA reminder: Peer Review Reporting deadline: did you file?
Author | Allen, Bruce C. |
Position | CapitalBeat - California Board of Accountancy |
A reminder: if your CPA license ends in 67 through 00, then July 1 was the deadline to tile your Peer Review Reporting to the California Board. Failure to report will result in a disciplinary action by the CBA--including a $250 fine. As of April 30, more than 7,000 CPAs in this reporting group have not filed their reporting form.
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Since peer review became mandatory in 2010, every active licensee must report whether or not they are required to have a peer review because they perform audits, reviews or compilations.
If you have not bled your Peer Review Reporting Form with the CBA, do so soon.
Reporting can be done quickly and easily online. The peer review reporting Form and instructions, as well as additional information is available at www.dca.ca.gov/cba/peereview.s.html. Licensees can also contact the CBA Peer Review Unit at (916) 564-1706 or peereviewinfo@cba.ca.gov.
Keep in mind that the CBA is taking steps to ensure that licensees are accurately reporting their peer review requirement by randomly auditing forms to verify accuracy, you're contacted it doesn't mean that the form is incorrect or that there are any violations, but rather that the CBA may need more information to verify the information you submitted. Licensees are encouraged to respond to any CBA request as soon as possible 10 resolve the matter.
CBA Experience Task Force Holds First Meeting
The CBA's task force to examine the experience requirement for CPA licensure held its first meeting in May. The task force is made up of CBA board members and representatives from various stakeholder groups, including CalCPA.
At the initial meeting. CBA staff provided task force members with the background and historical context of the California CPA licensure experience requirements and how other states have addressed the experience requirement.
In California, an individual can get either a "general," (G) license, or an "attest," (A) license. The only difference being that the attest license requires a minimum of 500 hours of supervised attest work experience.
The at test license is required of any CPA who signs audits and reviews. Most states have opted to eliminate a specific attest experience requirement and instead have a general experience requirement consistent with the national standard laid out in the Uniform Accountancy Act. Mandatory peer review is considered a better control for the quality of attest work and the experience level of the team working on...
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