Current through Register Vol. 63, No. 9, September 1, 2024
(1)
Reporting Enrollment in Peer Review Program. Every firm is
required to provide the following information in writing with every application
for registration and renewal of registration:
(a) Certify whether the firm is or is not
required to participate in a peer review program;
(b) Notify the Board of any peer review
sponsor changes within 21-days.
(c)
A firm that has previously reported to the Board that it is not subject to the
peer review requirement and that subsequently engages in the performance of
attestation or compilation services as defined by OAR
801-005-0010(4) and
(14), shall provide written notice of such
change in status to the Board before issuing a report.
(2)
Notice to Board. All firms
are required to participate in the AICPA Facilitated State Board Access (FSBA)
program. The firm must satisfy the document reporting requirements by allowing
the sponsoring organization to provide the Oregon Board access to the documents
via a secure website as detailed in section (3) of this rule.
(3)
Documents required. The
following documents must be provided by the timelines below via a secured
website, such as the AICPA Facilitated State Board Access (FSBA) website, or
submitted directly to the Board office:
(a) A
firm that has not previously been enrolled or the firm is now required to
enroll in a peer review program, must provide the enrollment letter within 30
days to the Board office;
(b) The
peer review report accepted by the sponsoring organization, within 30 days of
acceptance;
(c) The firm's letter
of response accepted by the sponsoring organization, if applicable, within 30
days of acceptance;
(d) The
acceptance letter from the sponsoring organization, within 30 days of
acceptance;
(e) Extension letters
approved by the sponsoring organization must be sent to the Board office or
available through the FSBA website within 30 days of the sponsoring
organizations approval;
(f)
Letter(s) accepting the documents signed by the firm with the understanding
that the firm agrees to take any and all action required by the sponsoring
organization, if applicable, within 30 days of the firm's execution of the
letter; and
(g) Letter signed by
the sponsoring organization notifying the firm that all required action has
been appropriately completed, if applicable, within 30 days of the date of the
letter, indicating that the all required action has been
completed.
(4)
Certification. Firms shall certify on the initial firm
registration, reinstatement application, and on each renewal application, the
result of the firm's most recent Peer Review.
(5)
Verification. The Board may
verify the certifications of peer review reports that firms provide on initial
registration, reinstatement, and renewal applications.
Statutory/Other Authority: ORS
673.455 & OL 2001, Ch. 638
& Sec. 12
Statutes/Other Implemented: ORS
673.455
