Costs

Peer Review Administration

Jessica Barillari

Telephone: 262-785-0445 ext. 3025

Fax: 262-785-0838

Email > Jessica Barillari

 

System Reviews

The cost of a System Review for an average firm will vary depending on the size and nature of the firm's accounting and auditing practice.

Engagement Reviews

Based upon the information received, the reviewer will select the types of engagements to be submitted for review. The number of engagements to be submitted for an engagement or report review will vary, depending on the size of the firm and the nature of its practice.

Engagement Review

Ordinarily, the engagements selected on the Engagement Review should adhere to the following guidelines:

1. One engagement should be selected for each of the following areas of service performed by the firm:
   •  Review of historical financial statements
   •  Compilation of historical financial statements with disclosures
   •  Compilations of historical financial statements that omit substantially all disclosures
   •  Attestation.
2. One engagement from each partner of the firm responsible for the issuance of reports listed above. However, ordinarily at least two engagements will be selected for review.
3. One of every type of engagement that a partner performs does not have to be reviewed as long as, taken as a whole, all types of engagements performed by the firm are covered.
4. In selecting engagements for review, the reviewer will attempt to include clients operating in different industries and engagements involving financial information as well as those involving historical financial statements.

Annual fee

In addition to the review costs that will be incurred every three years, firms also pay an annual administrative fee to the WICPA to cover the costs of running the program, scheduling the review and evaluating the results of the review.