Peer review is a review performed pursuant to a set of rules established by the Board. The peer review process monitors certain firms’ compliance with applicable accounting and auditing standards adopted by generally recognized standard-setting bodies. The Oklahoma Accountancy Board has adopted the American Institute of Certified Public Accountants’ "Standards for Performing and Reporting on Peer Reviews," as its minimum standards for peer review of registrants.

Any firm (including sole proprietors) holding a permit from the OAB that performs any audit, review, agreed-upon procedures, or compilation engagement must participate in an OAB approved sponsoring organization's peer review program or complete the compilation carve-out. Firms must schedule and begin an additional peer review within three years of the previous peer review due date, or earlier as may be required by the sponsoring organization. Registrants who are actively involved only in the supervision or review of compilations engagements must complete 4 hours of Compilations only activities annually OR be enrolled in a Board-approved peer review program. This does not negate the need to be enrolled in a peer review program if the registrant also performs other attest services.

In the event a firm does not comply with established professional standards, or a firm's professional work is so inadequate as to warrant disciplinary action, the OAB shall take appropriate action to protect the public interest.

Any report or document required to be submitted to the OAB shall be made available to the Board by a secure website or other secure means unless the sponsoring organization does not have access to a secure website or other secure means. In such case the report may be directly submitted by the firm within 30 (thirty) days of receipt from the sponsoring organization.

• There is no fee required for submission of pass reports.
• A $100 fee is required for every pass with deficiencies or fail report submitted.