Peer Review

What Will Your Peer Review Cost?

The cost of your peer review will include two components:

1. Annual administrative fee
2. Reviewer fee

Annual Administrative Fee

PICPA is fully involved in the administration of the AICPA and PICPA Peer Review Programs in Pennsylvania, Delaware, and the Virgin Islands. PICPA members, as well as nonmember firms, have their reviews evaluated by a committee of peers who understand the local business and practice environment.

All of the necessary administrative procedures are performed by the PICPA:

• maintaining enrollment information on reviewed firms
  
• maintaining information on the qualifications of reviewers
  
• obtaining information from firms regarding the nature and timing of reviews
  
• scheduling all aspects of CART and FOF/Association reviews (obtaining and verifying firm practice information, reviewer qualification, and timing)
  
• monitoring the progress and completion of reviews
  
• evaluating review working papers and communicating with reviewers during the review process
  
• evaluating review letters and reports
  
• processing the acceptance of reports
  
• coordinating committee oversight of all aspects of the peer review process

Fee Schedule

The Peer Review committee created an annual fee structure to avoid a large administrative fee during the peer review year. All firms enrolled in the program are charged an annual fee as determined by the schedule below.

Reviewer Fees

Firm on Firm Peer Reviews

• If you choose a Firm-on-Firm review or an Association review, you will make your own fee arrangements with the reviewer or association.

Engagement or Report CART Peer Reviews

• If you select a CART (Committee-Appointed Review Team) review, PICPA will bill you the reviewer's fee, based on the number of reports reviewed, and a $100 scheduling and evaluation fee.
• The number of reports reviewed depends primarily on the number of partners/shareholders/owners in your firm and the types of engagements your firm performs.
• Generally, the reviewer will select one engagement from each level of attestation, one from each partner, with a minimum of two engagements from the firm as applicable.

The following fixed fee schedule includes the $100 scheduling and
evaluation fee: