Firm Information

Notification of Change in Firm Structure Form

Instructions

Firm Name Change (fillable pdf document)
If your firm is undergoing a firm name change due to one of the following, complete this form:

A partner is leaving the firm and not taking accounting or auditing clients from this firm to a new firm.
A partner is joining the firm and not bringing accounting or auditing clients into the firm.
A staff member has been promoted to partner.
A firm name is changed for commercial purposes (i.e., PLLC, LLC, PC)

If the firm name change is for any other reason, please complete the applicable section below.

Firm Dissolution (A&A Partner Leaving Firm) (fillable pdf document)
If your firm is dissolving due to a partner leaving the firm and the partner is taking audit or accounting clients from your firm, complete this form. However, if the partner is leaving and taking all of the audit and accounting clients, this is considered a "Firm Sale" for peer review purposes.

Firm Merger (fillable pdf document)
If your firm is combining with another firm, complete this form.

Firm Purchase (fillable pdf document)
If your firm purchased another firm, complete this form.

Firm Sale (fillable pdf document)
If your firm was acquired by another firm or a partner is leaving and taking all of the audit and accounting clients, this is considered a "Firm Sale" for peer review purposes.

Job Class Change (fillable pdf document)
If you will no longer be a partner in a firm due to retirement or an industry/job change, complete this form.

For firms enrolled in the AICPA Peer Review Program
If you need assistance in completing this form, please contact Bonnie Olivieri at 860-258-4800, ext. 213 or the AICPA Peer Review Program at 919-402-4502 (option 2).

Email, fax or mail the completed form to your administering state society. Please see Exhibit A for a complete list of contact information for all administering entities.

For firms enrolled in the CPCAF Peer Review Program
If you need assistance in completing this form, please contact the CPCAF Peer Review Program at 919-402-4502 (option 0).

Email, fax or mail the completed form to the CPCAF Peer Review Program at:
Email: centerprp@aicpa.org
Fax: 919-402-4876
Address: CPCAF Peer Review Program
220 Leigh Farm Road
Durham, NC 27707
ATTN: Administrative Supervisor

If this form does not apply to your situation, please provide the following information under separate cover.

The full firm name, address, email address, phone and fax numbers of your current employer. (If you are not employed at this time, please provide your current status including mailing address, email address and telephone numbers. For example, retired, temporarily left the work force, business/industry, unemployed, etc.)
The date your employment began.
The percentages of the A&A practice that you took/brought with you.
Your current job title
Please indicate whether your current employer is in public accounting or industry.

Guidance on Writing an Effective Letter of Response

The purpose of the letter of response is for a firm to stipulate, in writing, the specific action(s) that will be put into effect to enhance the current system of quality control and to correct deficiencies noted by the reviewer. The description of the action(s) the firm has taken or will take should ensure prevention of recurrence of the matter discussed in the letter of comments. The action(s) should be feasible, genuine, and comprehensive.

Too often the letter of response is vague and repetitive of the letter of comments. When a response is vague, it is difficult to determine if the planned action will be appropriately implemented to ensure prevention, or if the action is inappropriate for correcting the matter discussed in the letter of comments. The letter of response should not be used as a place to indicate justification for the firm’s actions that related to the deficiency.

Example: The letter of comment indicates that certain disclosures are missing.

Response 1: The firm will enhance its policy to identify when a financial disclosure checklist should be used and who will be assigned the responsibility to prepare the disclosure checklist. The financial disclosure checklist will be included as part of the pre-issuance review process.

Response 2: The firm will consider the use of a disclosure checklist in the future.

Response 1 provides specific guidance as to when and who is responsible for the completion of the disclosure checklist. It indicates the changes to the current policy and procedures to ensure no disclosure deficiencies occur in the future. Response 2 addresses the comment but is vague as to when a disclosure checklist should be used and who would be responsible for completing it. Implementation in this format would be difficult to monitor. Response 1 is feasible, genuine and comprehensive as it relates to implementing the disclosure checklist into the firm’s system of quality controls.

Your firm's letter of response should be submitted to the team captain for review and comment. Make sure that the report, letter of comments and your firm's response is sent to the administering state society by your firm's review due date. However, if the firm does not submit its letter of response to the peer reviewer, the technical review and committee acceptance process should not be delayed and the required working papers, including the report and letter of comment should be submitted to the administering entity.

If the reviewed firm submits its letter of response to the peer reviewer and the peer reviewer communicates to the administering entity that it chose not to review the letter of response, the peer reviewer will receive feedback at a minimum the first time this happens. Subsequently, the report acceptance body will determine that the peer review was not performed in accordance with Standards in all material respects.

Letter of Response Can be Mailed or Faxed

The AICPA Peer Review Board has determined that during the course of a peer review, the response to a letter of comment can be transmitted by fax, e-mail, or other electronic means as long as the firm’s signature appears on the letter of response.

Firm Information

Notification of Change in Firm Structure FormInstructions

Guidance on Writing an Effective Letter of Response

Peer Review Quick Links

Notification of Change in Firm Structure Form

Instructions