Peer Review
September 25, 2026
Report on the Firm's System of Quality Management
To the Partners of
Mason + Rich, P.A.
and the New England Peer Review Committee
We have reviewed the system of quality management for the accounting and auditing practice of Mason + Rich, P.A. (the firm) in effect for the year ended May 31, 2026. Our peer review was conducted in accordance with the Standards for Performing and Reporting on Peer Reviews (Standards) established by the Peer Review Board of the American Institute of Certified Public Accountants (AICPA). For purposes of this report, the term quality management refers collectively to the policies and procedures the firm developed to comply with the Statements on Quality Control Standards established by the AICPA prior to December 15, 2025 and the policies and procedures the firm developed to comply with the Statements on Quality Management Standards established by the AICPA thereafter.
A summary of the nature, objectives, scope, limitations of, and the procedures performed in a system review as described in the Standards may be found at www.aicpa.org/prsummary. The summary also includes an explanation of how engagements identified as not performed or reported on in conformity with applicable professional standards, if any, are evaluated by a peer reviewer to determine a peer review rating.
Firm's Responsibility
The firm is responsible for designing, implementing, and operating a system of quality management to provide the firm with reasonable assurance of performing and reporting in conformity with the requirements of applicable professional standards in all material respects. The firm is also responsible for evaluating actions to promptly remediate engagements deemed as not performed or reported on in conformity with the requirements of applicable professional standards, when appropriate, and for remediating weaknesses in its system of quality management, if any.
Peer Reviewer's Responsibility
Our responsibility is to express an opinion on the design, implementation, and operating effectiveness of the firm’s system of quality management based on our review.
Required Selections and Considerations
Engagements selected for review included an engagement performed under Government Auditing Standards including a compliance audit under the Single Audit Act.
As a part of our peer review, we considered reviews by regulatory entities as communicated by the firm, if applicable, in determining the nature and extent of our procedures.
Opinion
In our opinion, the system of quality management for the accounting and auditing practice of Mason + Rich, P.A. in effect for the year ended May 31, 2026, has been suitably designed, implemented, and operated to provide the firm with reasonable assurance of performing and reporting in conformity with applicable professional standards in all material respects. Firms can receive a rating of pass, pass with deficiency(ies) or fail. Mason + Rich, P.A. has received a peer review rating of pass.
KLR Ltd.
Report on the Firm's System of Quality Management
To the Partners of
Mason + Rich, P.A.
and the New England Peer Review Committee
We have reviewed the system of quality management for the accounting and auditing practice of Mason + Rich, P.A. (the firm) in effect for the year ended May 31, 2026. Our peer review was conducted in accordance with the Standards for Performing and Reporting on Peer Reviews (Standards) established by the Peer Review Board of the American Institute of Certified Public Accountants (AICPA). For purposes of this report, the term quality management refers collectively to the policies and procedures the firm developed to comply with the Statements on Quality Control Standards established by the AICPA prior to December 15, 2025 and the policies and procedures the firm developed to comply with the Statements on Quality Management Standards established by the AICPA thereafter.
A summary of the nature, objectives, scope, limitations of, and the procedures performed in a system review as described in the Standards may be found at www.aicpa.org/prsummary. The summary also includes an explanation of how engagements identified as not performed or reported on in conformity with applicable professional standards, if any, are evaluated by a peer reviewer to determine a peer review rating.
Firm's Responsibility
The firm is responsible for designing, implementing, and operating a system of quality management to provide the firm with reasonable assurance of performing and reporting in conformity with the requirements of applicable professional standards in all material respects. The firm is also responsible for evaluating actions to promptly remediate engagements deemed as not performed or reported on in conformity with the requirements of applicable professional standards, when appropriate, and for remediating weaknesses in its system of quality management, if any.
Peer Reviewer's Responsibility
Our responsibility is to express an opinion on the design, implementation, and operating effectiveness of the firm’s system of quality management based on our review.
Required Selections and Considerations
Engagements selected for review included an engagement performed under Government Auditing Standards including a compliance audit under the Single Audit Act.
As a part of our peer review, we considered reviews by regulatory entities as communicated by the firm, if applicable, in determining the nature and extent of our procedures.
Opinion
In our opinion, the system of quality management for the accounting and auditing practice of Mason + Rich, P.A. in effect for the year ended May 31, 2026, has been suitably designed, implemented, and operated to provide the firm with reasonable assurance of performing and reporting in conformity with applicable professional standards in all material respects. Firms can receive a rating of pass, pass with deficiency(ies) or fail. Mason + Rich, P.A. has received a peer review rating of pass.
KLR Ltd.
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