Texas Administrative Code
Title 22 - EXAMINING BOARDS
Part 22 - TEXAS STATE BOARD OF PUBLIC ACCOUNTANCY
Chapter 527 - PEER REVIEW
Section 527.11 - Responsibilities of Peer Review Report Committee

Universal Citation: 22 TX Admin Code ยง 527.11

Current through Reg. 49, No. 12; March 22, 2024

The PRRC shall:

(1) establish and administer the sponsoring organization's peer review program in accordance with the AICPA Standards;

(2) prescribe actions designed to assure correction of the deficiencies in the reviewed firm's system of quality control policies and procedures;

(3) monitor the prescribed remedial and corrective actions to determine compliance by the reviewed firm;

(4) resolve instances in which there is a lack of cooperation and agreement between the committee and review teams or reviewed firms in accordance with the sponsoring organization's adjudication process;

(5) act upon requests from firms for changes in the timetable of their reviews;

(6) appoint members to subcommittees and task forces as necessary to carry out its functions;

(7) establish and perform procedures providing reasonable assurance that reviews are performed and reported on in accordance with the AICPA Standards for Performing and Reporting on Peer Reviews;

(8) establish a report acceptance process, which facilitates the exchange of viewpoints among committee members;

(9) communicate to the governing body of the sponsoring organization on a recurring basis:

(A) problems experienced by the enrolled firms in their systems of quality control as noted in the peer reviews conducted by the sponsoring organization;

(B) problems experienced in the implementation of the peer review program; and

(C) a summary of the historical results of the peer review program.

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