Rules & Regulations of the State of Tennessee
Title 0020 - Accountancy
Chapter 0020-06 - Peer Review Program
Section 0020-06-.06 - PEER REVIEW RESULTS

Universal Citation: TN Comp Rules and Regs 0020-06-.06

Current through September 24, 2024

(1) If the results of a peer review reveal that the professional services of a firm location are in general conformity with applicable professional standards, and the Committee concurs, the firm shall be notified of the acceptance of the review.

(2) If the results of a peer review reveal significant or certain departures from applicable professional standards, and the Committee concurs, the Committee may:

(a) Require the firm location to undergo an additional on-site or off-site review;

(b) Require any individual licensee who had responsibility for the professional services in question to successfully complete specific courses or types of continuing education as specified by the Committee;

(c) Require that the firm location responsible for the professional services submit all or specified categories of its engagements for a preissuance review in a manner and for a duration prescribed by the Committee; and/or

(d) Inform the Board that the firm is not in compliance with the Peer Review Program if it appears that the firm location is unwilling or unable to comply with the Program, or the departures from professional standards are so serious as to warrant consideration of possible disciplinary action.

(3) The costs of the remedial requirements imposed under subparagraphs (2)(a), (b) and (c) shall be borne by the firm.

(4) The results of any remedial requirements imposed under this rule are subject to review and approval by the Committee or the Board's staff.

Authority: T.C.A. §§ 62-1-105(e)(6);62-1-111(a)(12) and (14) and 62-1-201.

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