Policies and Fees

Policies/Fees

Program Administrative Fees

To cover the costs associated with administering the program, the Kentucky Society of CPAs (KyCPA) charges an Administrative Fee, which has been approved by the KyCPA Board of Directors. In January 2013, KyCPA implemented an annual billing cycle for Peer Review administrative fees. This makes for smaller annual invoicing, since firms will be billed for one-third of their enrollment fee each year, rather than receiving a single, larger bill every third year in the year of the review. Newly enrolled firms will be invoiced a pro-rated amount. The KyCPA does not invoice for fees charged by the reviewer engaged to perform a review. Reviewer fees will be invoiced by the reviewing firm. Non-KyCPA member firms must pay an additional fee of $500. To be eligible for the discounted (Member) rate, a CPA partner or shareholder in the firm must hold individual membership in the KyCPA. Firms dropped from the peer review program for non-compliance must pay a $250 re-enrollment fee and any unpaid administrative fees prior to commencement of its next review.

Rates Effective Jan. 1, 2017

SYSTEM Reviews / On-site
(Firm does audit work)

# of Professionals 

Member

Non-Member

 1

$780

$1,280

 2-10

$1,242

$1,742

 11 or more

$1,638

$2,138

ENGAGEMENT Reviews / Off-site
(Firm does NO audit work; performs reviews and/or compilations with/without disclosures)

# of Professionals 

Member

Non-Member

 1

$606

$1,106

 2-10

$780

$1,280

 11 or more

$1,161

$1,661

A professional is defined as anyone who is a CPA, any individual who is working towards becoming a CPA, and/or any other staff whose time is billed for.

The non-member rate is the actual rate plus a surcharge of $500 and is computed based on the member rate plus an average of committee and technical review and discussion time. Invoices are sent out annually in January and includes the cost of a technical review.

The Peer Review Committee

The Peer Review Committee is made up of 18 KyCPA members who voluntarily give their time and efforts in ensuring the viability and success of the peer review program as administered by the KyCPA. Each committee member devotes 20-24 hours, at a minimum, annually to the program. The committee chair ordinarily devotes significantly more of his/her time due to the leadership and oversight responsibilities demanded in administering the peer review program.

Contact Julie Salvaggio for a list of current Peer Review Committee members.