Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
TSCPA outlines peer review trends: enrollments down, corrective actions common; termination process explained
Summary
A Tennessee Society of CPAs (TSCPA) presenter told the board enrolled firms have declined about 6% per year, 446 firms remain enrolled, and the peer review program issues corrective actions (CPE, pre/post issuance reviews) when reviews pass with deficiencies or fail; TSCPA described the drop/termination process and oversight steps.
A TSCPA representative briefed the Tennessee State Board of Accountancy on the peer review program's administration, enrollment trends and corrective‑action practices during the board's July meeting.
TSCPA reported 446 firms were enrolled in its peer review program and said enrollments have declined on average about 6% per year, a trend TSCPA attributes mainly to firm mergers, retirement and firms choosing not to perform services that trigger peer review requirements. The presenter said the decline mirrors national trends and noted some firms register peer reviews through AICPA national administration instead of the state administering entity.
TSCPA reviewed the peer review workflow: a firm selects an…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
