Indiana Administrative Code
Title 872 - INDIANA BOARD OF ACCOUNTANCY
Article 1 - GENERAL PROVISIONS
Rule 6 - Peer Review
Section 6-9 - Requirements for firms
Current through March 20, 2024
Authority: IC 25-2.1
Affected: IC 25-2.1-5
Sec. 9.
(a) This section applies to renewal of firm permits that expire on or after June 30, 2006.
(b) During the three (3) year period preceding a firm's application for renewal of a permit under IC 25-2.1-5, a firm shall complete a peer review in compliance with this rule, unless the firm is not required to have a peer review under subsection (d)(2) or (d)(3). Failure of a firm to complete a peer review may result in the denial of the renewal of the firm's permit under IC 25-2.1-5.
(c) Each firm where attest or compilation services are performed shall be covered by a peer review. A single peer review report covering all locations may be submitted for firms with multiple firm locations.
(d) Each application for renewal of a permit under IC 25-2.1-5 shall certify:
(e) Before commencement of an attest or compilation engagement, a firm that was not required to obtain a peer review under subsection (d)(2) shall:
(f) A firm that was not required to obtain a peer review under subsection (d)(3) shall:
(g) In order to renew an expired firm permit, a firm shall complete a peer review in compliance with this rule. An exemption under subsection (d)(2) or (d)(3) shall be calculated as if the firm permit had been renewed before its expiration.
(h) Each firm is responsible for the cost of the peer reviews under this rule.