Hawaii CPA Society Welcomes New Peer Review Law

“Applauds” state legislature for over-riding veto to enact state’s first peer review mandates.

The new law requires for the first time that public accounting firms in Hawaii undergo outside peer reviews on a regular basis for auditing and attestation work.

Related:

• Big Firms Exit Hawaii Market
• Hawaii Mandates Peer Review for Out-of-State Firms

“Passage of the law is a significant reform that will aid in the reliability and availability of the best possible professional accounting services in Hawaii,” said Wendell Lee, Hawaii Society of CPAs president. “We are grateful for the hard work by state legislators to bring this reform to reality and look forward to working closely with the state board of accountancy to implement the new law.”