Michigan Administrative Code
Department - Licensing and Regulatory Affairs
Bureau of Professional Licensing
Board of Accounting
Accountancy - General Rules
Part 4 - PROFESSIONAL CONDUCT
Section R. 338.5503 - Peer review standards; change in sponsoring organization; deficient peer review reports; documentation
Current through Vol. 24-16, September 15, 2024
Rule 503.
(1) If a firm is merged, otherwise combined, dissolved, or separated, the sponsoring organization shall decide which firm is considered the succeeding firm. The succeeding firm shall keep its peer review status and the review due date.
(2) A firm choosing to change to another sponsoring organization may do so provided that the firm authorizes the previous sponsoring organization to communicate to the succeeding sponsoring organization any outstanding corrective actions related to the firm's most recent review.
(3) The department may rely on a failed peer review report or a second consecutive pass with deficiencies peer review report as prima facie evidence of a violation of professional standards.
(4) Each peer review and reviewer must satisfy the applicable review standards in place at the time of the review. The following standards apply:
