Role of the Practice Review Committee Member

• Effective May 1, 2006 the practice review committee became a Practice Review Committee consisting of Chartered Accountants, Certified Management Accountants and a Public Representative
• Consists of nine experienced CA’s, two CMA’s and one public member
• Meets 5-7 times a year, beginning in September and ending in June of every year.
• At each meeting there is a minimum of 40-50 reports to be assessed.
• Two days prior to each Committee meeting, the sub-committees (each committee has 2 members) will participate in a teleconference call (approximately 1-2 hours) along with the Director of Practice Review as the liaison.  The members will discuss their initial recommendation(s) regarding their assigned reports (each sub-committee has a pre-assigned number of reports to review), which will be discussed collectively at the meeting.  Prior to the sub-committee meeting, it is the responsibility of each member to review all reports being assessed.
• Represents accounting firms of different sizes and from all areas of the province in order to maintain a peer assessment process.
•  Responsible for making the decisions on practice reviews as charged and authorized by RAPA, the Regulations, the Resolutions and the By-Laws
• Decision that the firm meets the minimum standards required - recommend they comply and are reviewed again in 3 years. 
• Decision that the firm does not meet the minimum standards - they receive a follow up review in one year
• Firm still not meeting minimum standards after ample follow up review - referral is made to Discipline – rare circumstance
• Can also require the members to take professional development courses or respond to certain problem areas noted during their reviews.
• Other - responsible for complying with any Council Directives or Policies, approving all Practice Review procedures, maintaining communications with members, students and firms as deemed appropriate and advising Council on relevant strategy and policy matters.

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