| STEP # |
ACTION |
|
1: |
ISCPA
Mails request for background information prior to
review. |
| 2: |
FIRM:
completes and returns form to ISCPA. |
| 3: |
ISCPA:
Performs computer validating check on reviewer(s). |
|
4: |
IF
REJECTED:
ISCPA calls firm to pick new reviewing firm. Go back to
Step #3. |
IF
ACCEPTED:
ISCPA sends letter and materials to reviewer; sends
letter to firm. Proceed to Step #5. |
| 5: |
REVIEWER:
Contacts firm to request information and make
arrangements for review to begin. |
| 6: |
REVIEWER:
Completes review, submits report and letter of comments
(LOC), if any, to reviewed firm within 30 days of exit conference /
completion of review, and sends work papers to ISCPA. |
| 7: |
FIRM:
Sends copy of report, letter of comments and letter of
response (LOR), if any, to ISCPA. This information is due within 30 days
of receiving these documents from the reviewer or prior to the firm's due
date, whichever date is earlier. |
| 8: |
ISCPA:
Performs administrative review and technical review of
work papers, report, LOC and LOR. |
| 9: |
PEER
REVIEW COMMITTEE:
Receives recommendations from technical reviewer on
accepting report, LOC and LOR. Committee makes approval decision and
recommends and monitors follow-up action as required. |
| 10: |
ISCPA:
Sends acceptance letter and evaluation form to firm. |
| 11: |
FIRM:
Completes and returns evaluation form to ISCPA. |
