Committee Appointed Review Team (CART)

Important Information for Firms Requesting CART Reviews

Follow a few simple steps to help make the Engagement CART Peer Review process a smooth one.

Step One:

TSCPA sends the firm the Information Required for Scheduling a Review (IRSR) form.

The form is usually sent three to six months prior to the review due date (located on page 1 of the form). The review will cover a 12-month period ending six months prior to the review due date. For example, if the due date is Dec. 31, 2013, your review period would be July 1, 2012 through June 30, 2013.

Step Two:

Fill out the form and return it to TSCPA. Complete pages 1 through 9 and the Exhibit 3 form to request a CART review.

• List on page 16 all engagements either completed, in process, or scheduled, with periods ending/balance sheet dates within the review period. Attestation engagements, including forecasts, projections and agreed upon procedures, with a report date that falls within the review period should also be listed.

• Every monthly engagement for a client counts as one engagement and must be listed separately on page 16. For example, if the firm performs monthly compilations for one construction client, then "12" would be written under engagements for the industry code of 165.

Sign and date on page 9. Send the form to TSCPA using one of the following methods.

Email: peerreview@tscpa.net
or
Mail: TSCPA Peer Review Dept.
14651 Dallas Parkway, Suite 700
Dallas, TX 75254-7408
or
Send fax to: 972-687-8575

Step Three:

TSCPA processes the IRSR form and email the firm a "Packet of Information" containing:

• An Engagement Letter with signature of firm representative;
• A Representation Letter;
• A List of the Engagements to be reviewed;
• A Questionnaire for all engagements;
• A request for a copy of your current Practice Unit License;
• A final invoice.

Step Four:

Submit by email or share file ALL the information requested in Step Three to TSCPA within 15 days from the date of the Engagement Letter.

Step Five:

The TSCPA will arrange for a reviewer to perform the review in the order that it was received at the Society. During the review, the reviewer will contact the firm and discuss matters that may affect the report. Once the report is prepared the firm will be contacted as to the next actions.

Effective June 1, 2013, the total fee will include a base fee of $600 plus an additional $300 for every engagement with disclosures and/or $150 for every engagement without disclosures reviewed.

Some reviews may require additional action to finalize the review, and the firm will be contacted in writing regrading the additional information needed.

For more information e-mail Sharon Gibson or call 972-687-8574.