North Dakota Administrative Code
Title 3 - Accountancy, Board of
Article 3-01 - General Administration
Chapter 3-01-03 - Ethics, Firm Ownership, and Firm Review
Section 3-01-03-03 - Firm review

Universal Citation: ND Admin Code ยง 3-01-03-03
Current through Supplement No. 392, April, 2024

Firms practicing public accounting are required to undergo a practice review conforming to the standards of the AICPA peer review program, or a program deemed comparable by the board. The board will not require such review more frequently than every three years, except in the case of quality concerns or the lack of timely review progress. A copy of the review report and letter of acceptance, plus any letters of comment and response issued, are to be submitted to the board when directed. When the review process reveals substantive quality concerns, the board may take various actions against the firm, such as requiring specific continuing education, preissuance report review, accelerated practice review, practice restrictions, and other measures.

General Authority: NDCC 43-02.2-04

Law Implemented: NDCC 43-02.2-03

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