Assemblyman Al Stirpe (D-Cicero) announced that legislation he introduced helping to protect consumers by ensuring certified public accountant firms have proper quality control has been signed into law (Ch.364 of 2017). The new law requires that any firm offering CPA services undergo peer review as a condition of state registration renewal.
“Consumers should always feel confident they aren’t being taken advantage of when they are filing their taxes,” Stirpe said. “This law not only protects consumers, but also encourages accounting firms to find ways to improve their services.”
Prior law exempted firms with two or fewer accounting professionals from subjected reviews as a condition of renewing their registration. New York had been the only state to allow such an exception, pushing Stirpe to sponsor the legislation and hold all firms accountable for their performance.