Peer Review

If you have any questions regarding peer review, please contact:

Stacey Lockwood, CAE

Director of Professional Oversight
800.288.5272 • 504.904.1136
F: 985.764.4345

Peer Review Committee

PRIMA Has Replaced PRISM

We have replaced the Peer Review Information System Manager (PRISM) with an all-electronic, interactive system called the Peer Review Integrated Management Application (PRIMA).

Click here for more details, access to training, FAQs, Getting Started in PRIMA and other resources.

Sign in to PRIMA

Membership Requirements

The Society of Louisiana CPAs requires all firms engaged in the practice of public accounting performing attest services to enroll in the Peer Review Program.

Firms that do not perform engagements subject to peer review are not required to enroll. Firms are required to notify the Society and immediately enroll in the peer review program upon acceptance of an engagement subject to peer review as defined in the Standards for Performing and Reporting on Peer Reviews.

In accordance with State Board Rules all CPA firms which perform attest services in Louisiana must undergo and complete a peer review at least once every three years.

Title 46, Chapter 15 1503 5a of the State Board Rules also provides that all peer review reports for reviews commencing on or after January 1, 2009 shall be made available to the board via a secure website within 45 days of acceptance. The Society’s Peer Review Committee has established procedures to ensure firms are in compliance with this rule.

Enrollment Costs

The Society charges an administrative fee billable each January to cover expenses related to the administration of the program. All firms subject to peer review will pay the annual fee based on the number of professionals in the firm. The fees are designed to provide a break-even program funding. Firms that are not members of the AICPA or State Society will be subject to additional fees. All other requirements of the program will apply.

Annual Administrative Fee Structure

  • $230 per year for sole practitioners
  • $335 per year for firms with two to five professionals
  • $440 per year for firms with six to ten professionals
  • $550 per year for firms with more than ten professionals

Reviewer resumes must be updated at least annually through PRIMA. In addition, all resumes will be verified at least every three years pursuant to guidance in the AICPA Oversight Handbook. The objective of oversight is to ensure compliance with the Standards and consistency in implementation. Verification will include specific information about the number and type of engagements performed as well as the level of involvement in those engagements.

To learn more about the AICPA Member Self-Service initiative and to download instructions, visit the For Peer Reviewers section.

Common Reviewer Deficiencies

Listed below are deficiencies commonly committed by reviewers:
  • Improper documentation or failure to recognize repeat findings
  • Improper identification of deficiencies
  • Workpapers not submitted within 30 days of exit conference
  • Improper completion of MFCs
  • Failure to address the type of report to be issued with the firm prior to the exit conference.
  • Use of outdated program material and checklists
  • Improper completion of checklists, including the SRM, MFCs and FFCs
  • Documentation deficiencies improperly identified
  • Substandard engagements and deficiencies that are not identified in workpapers
  • Risk assessment incomplete or ineffective
  • FFCs that do not properly address or identify the systemic cause