Alaska Administrative Code
Title 12 - Professional Regulations
Part 1 - Boards and Commissions Subject to Centralized Licensing
Chapter 04 - Board of Public Accountancy
Article 8 - Quality Review
12 AAC 04.620 - Exceptions to peer review reporting requirements

Universal Citation: 12 AK Admin Code 04.620

Current through February 24, 2025

(a) A permit holder is exempt from the peer review requirements under 12 AAC 04.600 if

(1) the permit holder did not issue reports on audited or reviewed financial statements during the concluding permit period; or

(2) the report on audited or reviewed financial statements was
(A) the permit holder's first report during the permit period; and

(B) was issued within the last 12 months of the concluding permit period.

(b) A permit holder who is exempt under (a)(2) of this section must undergo a peer review as set out under 12 AAC 04.600 within 18 months after the date of the first completed report on audited or reviewed financial statement.

(c) If a firm is merged, otherwise combined, dissolved, or separated, the organization administering the quality review shall determine which firm is considered the succeeding firm. That determination is subject to review by the board. The succeeding firm shall retain its quality review status and its quality review due date.

As of Register 171 (October 2004), the regulations attorney made technical revisions under AS 44.62.125(b)(6) to reflect the name change of the Department of Community and Economic Development to the Department of Commerce, Community, and Economic Development made by ch. 47, SLA 2004 and the corresponding title change of the commissioner of community and economic development.

Authority:AS 08.04.070

AS 08.04.426

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