What is the process for having a Peer Review? All Tennessee registered firms that perform attest functions must have a peer review completed once every three years. Compliance with the peer review requirement is mandatory for a firm to renew a permit to practice.
- 1. Peer reviewed firms use PRIMA, a web-based platform created by the AICPA. Firms should complete a Firm Creation Form and email it to peerreview@tscpa.com. Firms may then log into PRIMA at prima.aicpa.org to complete the online enrollment form.
- 2. If you have questions regarding the Peer Review Program, please contact the TNSBA Firm Permit Coordinator, Karen Condon, at karen.condon@tn.gov.
Has the nature of your practice changed? If your firm no longer offers attest services, please submit to the Board an affidavit for exemption from peer review requirements. Firms beginning or resuming attest services should contact TSCPA for enrollment information.
What services are considered to be attestation in Tennessee, and therefore subject to Peer Review? TCA §62-1-103 (1) defines “attest” as follows:
(A) Any audit or other engagement to be performed in accordance with the Statements on Auditing Standards (SAS);
(B) Any review to be performed in accordance with the Statements on Standards for Accounting and Review Services (SSARS);
(C) Any examination to be performed in accordance with the Statements on Standards for Attestation Engagements (SSAE);
(D) The issuance of any report, including compilation reports, prescribed by the SASs, the SSARSs or the SSAEs on any services to which those statements on standards apply, indicating that the service was performed in accordance with standards established by the American Institute of Certified Public Accountants (AICPA); and
(E) The statements on standards specified in this subdivision (1) shall be adopted by reference by the board pursuant to rulemaking and shall be those developed for general application by recognized national accountancy organizations such as the AICPA;
If my practice consists mainly of tax or consulting work and I perform just one review for someone applying for a contractor's license, will I be subject to peer review? Yes, if you perform any attest work including, compilations, reviews, or audits, even if it's just one, you will be subject to peer review.