Activity Review
North Carolina State
Board of Certified Public
Accountant Examiners
1101 Oberlin Road, Suite 104 • PO Box 12827 • Raleigh, NC 27605 • 919-733-4222 • No. 11-2005
CPA Firm Renewal/Peer Review
Compliance Due
Recently, CPA firm renewal/peer re¬
view compliance forms were mailed to
all registered CPA firms including indi¬
vidual practitioners, partnerships, pro¬
fessional corporations, professional
limited liability companies, and regis¬
tered limited liability partnerships.
By reading the instructions included
with the form; reviewing 21 NCAC
8J, Renewals and Registrations, and
21 N CAC 8M, Peer Review Program ; and
following the checklist below, you can
ensure that your CPA firm's renewal/
peer review compliance information is
received by the Board prior to the De¬
cember 31 deadline.
CPA Firm Renewal/Peer Review
Compliance Checklist
• If the information on the form is incor¬
rect or incomplete, make the necessary
corrections or additions and return the
form in the postage-paid envelope pro¬
vided.
• The form must be signed to be com¬
plete. Donotdetachand return only the
signature portion of theform; you must
return the entire form, even if no changes
were made.
• If the CPA firm is no longer in opera¬
tion, check the appropriate box, sign the
form, and return it and if appropriate,
filed articles of dissolution or with¬
drawal, to the Board. Choosing not to
return the form does not constitute no¬
tifying the Board that the CPA firm is no
longer in operation and you may be
subject to disciplinary action by the
Board.
• If fees are due, the check must be made
payable to tine NC State Board of CPA
Examiners . Checks madepay able to other
organizations such as the N CACPA will
not be accepted. Fees may also be paid
using MasterCard or VISA.
• If there have there been any changes
in employees, partners, shareholders,
members, etc., make the necessary cor¬
rections to the supplemental form. If
there have not been any changes, initial
the supplemental form and attach it to
the main page of the renewal form.
• If the CPA firm's peer review has been
completed, but is not indicated on the
form, write in the date of completion and
provide the appropriate documentation.
For an unmodified opinion, simply send
the acceptance letter. For a second con¬
secutive modified opinion or for an ad¬
verse opinion, you must send the peer
review report, the letter of comments,
letter of response, and final acceptance
letter.
If a CPA firm fails to comply with
any part of 21 NCAC 8J, Renewals and
Registrations or 21 NCAC 8M, Peer Re¬
view Program, the Board may take disci¬
plinary action (as specified in 21 NCAC
8J. 0111 and 21 NCAC8M . 0106) against
the CPA firm's members. Such action
may include a conditional license, civil
penalty, and suspension of each CPA
firm member's CPAcertificate.
If you have questions about your
CPA firm's renewal or peer review com¬
pliance, please contact Lisa Moy at 919-
733-1423 or at lisamoy@beIlsouth.net.
AICPA to Relocate
Select Operations to
Durham, NC
On October 25, 2005, the American
Institute of Certified Public Accoun¬
tants (AICPA) announced that it will
relocate select operations currently
located in Jersey City and New York
City to Durham, NC.
The decision to relocate was the
result of an extensive financial and
location analysis conducted by AICPA
management, with the assistance of
consultants.
"The relocation will position us
for the next century of service to CPAs
of this country," said Barry C.
Melancon, AICPA President and
CEO.
AICPA
continued on
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www.cpaboard.state.nc.us
Inside this issue...
Annual CPE Reminder . 6
Approved Ethics CPE Courses . 6
Certificates Issued . 4
Disciplinary Actions . 2, 3, 7
Office Closed . 7
N otice of Address Change . 8
Reclassifications . 5
Residency Stats . 5
