Banner

Practice Reviews

Any member that is registered for public practice (except in the Other Regulated Services – Non-Reviewable category) is subject to a practice review.  The office will be contacted by a Practice Review Officer (PRO) in advance to schedule the review.  There may be cases where an office does not have any reviewable work[i]. The PRO will assess the need to visit a firm when they call to arrange the practice review.
Sole practitioners are practice reviewed as individuals.  However, practitioners that work in conjunction with partners or partner equivalents (employees authorized to sign off on engagements) will be practice reviewed together.  For larger firms with multiple offices a practice review is typically done for each office, however in some circumstances multiple offices will be reviewed together. The nature of the offices’ operations is a key consideration in determining whether or not offices in the same firm are practice reviewed together.
During a practice review, depending on the practice profile of the firm, a PRO would look at a sample of files, including audit files, review engagement files, other assurance engagement files, compilation files, FOFI and trust engagements, and T1 and T2 engagements files,.  This is not an exhaustive list of reviewable work. Contact Alexandra Lea, Director, Practice Review for more information.
A PRO will call and discuss the work you perform in your practice.  If you do not have any reviewable work[i], a practice review will not be necessary but you will need to confirm in writing the work you do perform and acknowledge that if your practice changes, you will need to inform us so that we can make a determination whether a practice review will then be necessary.
All offices will be subject to a practice review within one year of their inception. After the initial review, a risk adjusted cycle is used.  Unless risk factors indicate otherwise, an office will be reviewed once every three years after they successfully complete their first practice review.
If you have not completed any reviewable work, the PRO will likely postpone the review until you have completed a reviewable engagement.

All members registered for public practice are subject to a public practice fee. The amount of the fee is dependent on the type of work you are licensed to conduct. For more detailed information on public practice fees please refer to the public practice registration section