Sponsoring Organizations, Programs, And Standards

(1) The Board shall approve peer review sponsoring organizations, programs, and standards. (2) The Board recognizes the AICPA as an approved sponsoring organization, along with its peer review program. This approval also applies to all Administering Entities approved by the AICPA to administer the peer review program. As a condition of this approval, a sponsoring organization is required to: (a) Administer peer reviews for nonmember licensees, provided that such nonmembers comply with the applicable peer review standards, and (b) Provide advance notice to the Board if any Administering Entity is to be discontinued. (3) The Board may approve other peer review sponsoring organizations that are substantially similar to AICPA. To be considered for approval, a sponsoring organization must submit evidence to the satisfaction of the Board. The evidence shall include the standards, procedures, guidelines, oversight process, training materials, and any other related documents used to administer, perform, and accept peer reviews. The Board may request additional documents, as needed to determine whether to grant approval. (4) The Board may terminate its approval of a sponsoring organization for cause following notice and opportunity to appear before the Board. For purposes of this paragraph, cause includes but is not limited to a substantive change in the Peer Review Program that adversely affects PEER REVIEW PROGRAM CHAPTER 0020-06 licensees or firms, impairs the Board’s ability to protect the public in this state, or for failure to maintain an ongoing compliance with the requirements of this Chapter.