R4-1-454. Peer Review

A. Each firm, review team, and member of a review team shall comply with the Standards for Performing and Reporting on Peer Reviews published June 15, 2025 in the AICPA Professional Standards by the American Institute of Certified Public Accountants, 220 Leigh Farm Road, Durham, North Carolina 27707-8110 (www.aicpa.org), which is incorporated by reference. This incorporation by reference does not include any later amendments or editions. The incorporated material is available for inspection and copying at the Board’s office. B. A firm shall allow the sponsoring organization to make the following documents and objective information accessible to the Board via the FSBA process: 1. Peer review report which has been accepted by the sponsoring organization, 2. Firm’s letter of response accepted by the sponsoring organization, if applicable, 3. The acceptance letter from the sponsoring organization, 4. Letter or letters accepting the documents signed by the firm with the understanding that the firm agrees to take any actions required by the sponsoring organization, if applicable, 5. Letter signed by the sponsoring organization notifying the firm that required actions have been appropriately completed, if applicable, 6. Date of the most current peer review program enrollment or reenrollment letter, 7. Firm representation to the sponsoring organization that it has not performed engagements subject to peer review in the last 12 months, if applicable, 8. Due date of the current peer review and due date on any open corrective actions, 9. Date of the peer review or corrective action extension letters, 10. Date of the letter acknowledging the peer review was scheduled, and 11. Estimated dates of the peer review commencement and presentation to a report acceptance body. C. Information discovered solely as a result of a peer review is not grounds for suspension or revocation of a certificate. D. Firms that reorganize a current firm, rename a firm, or create a new firm, within which at least one of the prior CPA owners remains an owner or employee, shall remain subject to the provisions of this Section. If a firm is merged, combined, dissolved, or separated, the sponsoring organization shall determine which resultant firm shall be considered the succeeding firm. The succeeding firm shall retain its peer review status and the review due date.