Peer Review Annual and Service & Evaluation Fee:
The Massachusetts Society of CPAs administers the AICPA’s Peer Review Program for enrolled firms in Massachusetts and New Hampshire.
MassCPAs charges two fees:
The Society's Board of Directors decided to split the cost of running the peer review program into two fees. The Annual Fee is billed yearly in December and is based on the size of your firm, society membership and non-membership. The Scheduling and Evaluation Fee is based on the type of review your firm has and is billed when your peer review is scheduled which is every three years.
Current fees are below for enrolled firms:
Peer Review Annual Fees
Peer Review Service & Evaluation Fees
Enrollment Policy Massachusetts:
First time enrollees whose peer review is due in the current year will be billed the Service & Evaluation Fee and current year's Annual Fee. New firms whose reviews fall after the current year will be billed for the current annual fee only.
Please Note: Firms that are dropped from the program between reviews due to non-payment will be required to pay a reinstatement fee which is the Annual Fees for the interim years.
Membership in the Societies are encouraged and will reduce the cost of your Annual Fee.
*Personnel are defined per Statement on Quality Control Standards (SQCS) No. 8, A Firm’s System of Quality Control, as partners and staff (AICPA, Professional Standards, QC Section 10). Partners are defined per SQCS No. 8 as any individual with authority to bind the firm with respect to the performance of a professional services engagement. For purposes of this definition, partner may include an employee with this authority who has not assumed the risks and benefits of ownership. Firms may use different titles to refer to individuals with this authority. Staff are defined per SQCS No. 8 as professionals, other than partners, including any specialists that the firm employs. Staff also include leased and per diem employees who devote at least 25% of their time in performing audits, reviews, compilations or other attest engagements or personnel who have partner or manager level responsibility for the overall supervision or review of such engagements.