Board of Certified Public Accountants

Peer Review

This information is provided as guidance. For details regarding specific requirements, please refer to the Statutes and Board rules and regulations.

Peer Review Procedures


  • Understanding the Difference - Board vs. Society

    • The Wyoming Board of Certified Public Accountants (Board) is the licensing agency that regulates the license to practice and utilize the CPA designation in Wyoming.

    • The Wyoming Society of CPAs (WYSCPA) is the professional membership organization to which CPAs may choose to belong.

    • The Nevada State Board of Accountancy is the licensing agency that regulates the license to practice and utilize the CPA designation in Nevada.

    • The Nevada Society of CPAs (NVSCPA) is the Peer Review administering entity (AE) for Wyoming.

The following is a summary of the steps involved for licensees new to the peer-review process.

Step 1: Enroll with Peer Review Administering Entity

Nevada Society of CPAs contact information:

Kary Arnold

Peer Review Coordinator

6490 S McCarran Blvd, D1 Ste 28

Reno NV 89509

(775) 826-6800

Licensees must complete the enrollment form (based on the above membership type) and submit to the NVSCPA.

Once the agency has reviewed and processed the enrollment form, the licensee will receive an Enrollment Letter or Notice of Date of Initial Peer Review. This letter identifies the date by which the peer review must be completed.

Step 2: Year in Review

The Peer Review Due Date is based on 18 months (1 ½ years) from the date of the enrollment or the licensee's first engagement.

For Example:

Enrollment Date = August 19, 2008

Due Date = February 28, 2010

The 18 months is based on the following timeline to allow a year to pass in which the licensee will be under review then 6 months following the year of review for actual peer review and report approval process

For Example:

Year of Review = September 1, 2008 - August 31, 2009

Peer Review Scheduled & Conducted after September 1, 2009

Peer Review Approval Process


Step 3: Background Information Required

6 - 9 months prior to the peer review due date, the AE will send the licensee a background form titled "Information Required for Scheduling Reviews". This form must be completed and returned to the AE within 30 days. Delays often occur when the licensee does not return the background form by the deadline date. Due process letters are sometimes sent to the licensee by the AE to assure completion of the required form.

For Example:

Due Date = February 28, 2010

Background Form Sent to Licensee = July / August 2009

Step 4: Schedule Peer Review

The licensee can schedule their peer review anytime after their year in review has completed (e.g. September 1, 2008) from the AICPA and State Society list of individual reviewers.

A list of reviewers can be obtained by visiting the AICPA website at - Professional resources>peer review>aicpa peer review program>reviewer search

It is noted that Wyoming currently has two approved reviewers. In the event a licensee does not wish to select a reviewer from Wyoming, the licensee can choose another reviewer from out of state.

Step 5: Peer Review Conducted - Approval Process

Once the peer review has been conducted by one of the approved reviewers, a report is made by the reviewer and submitted to the administering agency.

The report is then sent to a Technical Reviewer for their review of the report. The report is then returned to the administering entity.

The administering entity then sends the report for additional review/approval to committee members of the Review Approval Board (RAB). Each committee member is assigned specific reviews based on their area of expertise. Three members look at each consent review and the non-consents are assigned to specific members to present individually during the RAB meeting.

The committee member(s) will then recommend or concur with the peer reviewer the additional course of action the licensee must follow if deficiencies were found in the peer review. Course of action can include a concurrent year peer review, continuing education, updated library reference material, modifications to correspondence, post or pre-issuance review of reports prior to client release, and any other recommendation to resolve the issue identified.

The RAB meetings are generally held 4-5 times per year. Once the report has received final approval the Letter of Acceptance is sent to the licensee by the administering entity.

Requirements for Review

Requirements for Review

  • Registrants or CPA firms with a principal place of business in Wyoming or clients whose home office is in Wyoming, whose accounting and auditing practice includes one or more engagements performed under the AICPA’s Statements on Auditing Standards (SAS); Statements on Standards for Accounting and Review Services (SSARS);Statements on Standards for Attestation Engagements (SSAEs); Government Auditing Standards issued by the United States Governmental Accountability Office are subject to review under the requirements of a practice monitoring program at least once every three and one-half years.

  • All reviews must be carried out in conformity with the AICPA’s Standards for Performing and Reporting on Peer Reviews or the PCAOB's firm inspection standards.

  • Reviews must be carried out under the supervision of one of the following administering entities:

    • (i) the AICPA Peer Review’ Board’s National Peer Review Committee (PRC);

    • (ii) a CPA Society or group of state CPA societies fully involved in the administration of the AICPAs peer review program;

    • (iii) other entities fully involved in the administration of the AICPA’s peer review program approved by the AICPA Peer Review Board; or

    • (iv) any other entities whose Board approved Peer Review Program is governed by the AICPA Standards for Performing and Reporting on Peer Reviews or

    • (v) the PCAOB.

  • With the acceptance of an accounting and/or auditing engagement as set forth in this Chapter, a registrant or CPA firm is subject to practice monitoring and its designated certificate holder must within sixty (60) days notify the Board of the acceptance of an engagement, enroll in a Board approved peer review program, and undergo a review as required under the peer review standards and administrative procedures established by the administering entity.

  • The Board may accept extensions for registrants or CPA firms undergoing peer reviews granted by administering entities provided that the Board is notified by the registrant or CPA firm within fourteen (14) days from the date of the letter from the administering entity granting the extension. Ordinarily, extensions are granted for the following reasons:

    • i) Health;

    • ii) Military Service; or

    • iii) Other good cause clearly outside of the control of the reviewed firm

Reporting to the Board

  • No later than June 30 of each year, registrants or CPA firms with reviews scheduled in the prior calendar year must submit to the Board a copy of peer review documents as follows:

    • (i) If the report is designated "Pass", a copy of the report and acceptance letter;

    • (ii) If the report is designated "Pass with Deficiencies"or "Fail", a copy of the report, reviewed firm’s letter of response, and letter(s) signed by the firm accepting the documents with the understanding that the firm agrees to take any actions required by the sponsoring organization; and the letter signed by the sponsoring organization notifying the firm that required actions have been appropriately completed;

    • (iii) If an inspection report by the PCAOB, a copy of any final report, documentation of any significant issues and findings, and the registranfs or CPA firms response.

    • (iv) Firms may meet the requirement in Section 4 (a)(i)-(ii) by participating in the AICPA Facilitated State Board Access (FSBA) program which authorizes the administering entity to release peer review results to the state boards of accountancy.

  • A registrant who is employed by state or federal government or political subdivision thereof and who provides services that subject him to peer review under this chapter is not required to submit reports to the Board under this section