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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16544
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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The accounting firm was issued Pennsylvania initial license

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The accounting firm was issued Pennsylvania initial license in 2013. If the firm provides the below service to clients instead of audits and reviews, is the firm required to either certify compliance with the Pennsylvania peer review requirement or submit documentation showing eligibility for an exemption?
•Performance of an independent internal audit function

•Compilations of financial statements with complete disclosure in accordance with SSARS

MyVirtualCPA :

Thank you for your question, and thanks for using JustAnswer.com. This firm would need to certify compliance with PA peer review requirement if they are offering these services

MyVirtualCPA :

You can see more about this, HERE

MyVirtualCPA :

Is there anything else that we can assist you with today? If not, please rate my response as "excellent" so that I may receive credit for assisting you today

Customer:

Performance of an independent internal audit function is required for peer review ? I can not see it in the above site. thanks

MyVirtualCPA :

It's an attest function. And if you have compilations with disclosures you need peer review too. Thanks

MyVirtualCPA :

Is there anything else that you need assistance with? If not, please rate as "excellent" so that I may receive credit for assisting you today

Thanks for allowing me the opportunity to help you. Please let me know if I can be of any further assistance to you in this matter. I really enjoyed working with you – please feel free to request me again when you come back to ask another question. Simply enter "MyVirtualCPA" in the subject of your question Thanks again for being a JustAnswer customer
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