Facilitated State Board Access (FSBA)
Virginia participates in the American Institute of CPAs (AICPA) Peer Review Facilitated State Board Access (FSBA), a process created by the AICPA to help the profession keep up with the evolving changes in the business and regulatory environments and to address the demand for greater peer review transparency.
Benefits of FSBA
The goal of this process is to create a nationally uniform system through which CPA firms can satisfy state board peer review information submission requirements, increase transparency, and retain control over their peer review results. The AICPA and CPA state societies work together to allow this process to become the primary means by which all state boards of accountancy obtain peer review results. This process is intended to make submission of your firm’s peer review information easier.
What This Means for Your Firm
FSBA uses the existing peer review process to facilitate the voluntary disclosure of peer review results to boards of accountancy. To accommodate this process, the AICPA has made some alterations to the peer review process. Firms will now have the option of "opting out" during the scheduling phase of their review.
Frequently Asked Questions