Practice Unit Registration forms were sent to each Idaho licensee in July. Please take note of the following:
Who must file:
If you are currently licensed, you must fill out and
return the form even if you are not practicing public accounting. If you are firm, the firm must file one registration list all licensees employed by that firm location.
currently part of a form and by office
Filing deadline: filing deadline date
Reminder notices so don’t be late!
August 31, 2000. sent after that date,
3. Consequences of late filing or noncompliance with Quality (Peer) Review requirements:
a. Late filing fee: Licensees will be charged a $100 late fee for filing after August 31, 2000. When licensees are employed by an accounting firm, if the firm is late in filing, each licensee will be charged a separate late fee.
b. Noncompliance penalties: Failure to timely enroll with an approved administering organization and/or to timely complete a quality (peer) review are examples of noncompliance. A $100 penalty per practice unit is imposed for each act of noncompliance. Additionally, the CPA license of principle(s) of the firm will not be issued unless the firm complies.
ISBA July 2000 Page 4
Remember to have your registration form postmarked timely! No later than August 31, 2000
A firm offering attest services must enroll with an Administering Organization (AO) for a quality review. The AO assigns the firm a review date. The firm must notify the Idaho Board of the assigned review date. Approved AO’s are:
Florida Institute of CPAs
Idaho Society of CPAs
Illinois CPA Society
Kansas Society of CPAs
Maryland Assoc of CPAs
Montana Society of CPAs
Nevada Society of CPAs
National Society of Accountants
Oregon Society of CPAs
Texas Society of CPAs
Washington Society of CPAs