Mandatory peer review in California is being phased in over three years. Current issue of the California Board of Accounancy’s newsletter, Update, has a superb brief article on page 8.
Here is a great one sentence summary:
In July 2011, licensees with license numbers ending in 34 through 66 were notified that they are required to submit a Peer Review Reporting Form to the CBA by July 1, 2012.
It takes a long time to go from registering with the national peer review program, to finding and retaining a peer reviewer, getting the reviewer approved by CalCPA, going through the review, and finally getting through a very long approval process.
Timeline mentioned by CBA?
The entire peer review process can take 4-6 months.
If 7-1-12 is your first reporting deadline, it’s time to get started!
Read the full article. You can find it on page 8 of Update here.