Important Information for Firms
Requesting CART Reviews

Follow a few simple steps to help make the Engagement/Report 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, 2006, your review period would be July 1, 2005 through June 30, 2006

Step Two:

Fill out the form and return it to TSCPA. Complete pages 1 through 7 and the Exhibit 1 form to request a CART review.

• List on page 11 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 11. 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 7 and either fax the form to
972-687-8575 or mail it to:

TSCPA Peer Review Dept.
14651 Dallas Pkwy., Suite 700
Dallas, TX 75254-7408

Step Three:

TSCPA processes the IRSR form and mails 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;
  • An invoice for a $300 deposit. A final invoice will be sent after the report on the review has been issued.

Step Four:

Mail ALL the information requested in Step Three to TSCPA by the due date in the Engagement Letter.

Step Five:

A reviewer at TSCPA will perform the review in the order that it was received and will contact the firm for an exit conference. During the exit conference the reviewer will discuss matters that may affect the report and about all significant findings and recommendations that will be included in the Report and Letter of Comments, if any.

The Report (and Letter of Comments, if necessary) and final invoice are mailed. The firm is given 30 days to return a Letter of Response, if necessary, and to pay the final invoice.

The total fee will include a base fee of $300 (deposit) plus an additional $150 for every engagement with disclosures and/or $75 for every engagement without disclosures reviewed.

Some reviews may require additional action to finalize the review, but either a technical reviewer or the committee will make that request. The firm will be notified of the specific action needed.

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