(a) In this subtitle the following words have the meanings indicated. (b) “Engagement review” means a peer review that evaluates whether there is a reasonable basis for expressing limited assurance that: (1) financial statements with which the individual or firm is associated conform in all material respects with professional standards; and (2) reports and internal documentation of the work […]
(a) (1) A licensee or permit holder who performs any of the services described in § 2-4A-04 of this subtitle shall be required to undergo, at least once every 3 years, a peer review. (2) The Board may modify the peer review requirement for a licensee or permit holder upon a showing of good cause. (b) A peer review […]
(a) A licensee or permit holder who provides services requiring peer review on or after October 1, 2005, shall comply with the peer review requirement within 3 years after initiating those services. (b) A licensee or permit holder who provides services requiring a peer review and who submits a renewal application after October 1, 2008, shall affirm […]
(a) A system review is required for a licensee or permit holder that performs any of the following services: (1) engagements governed by the Statements on Auditing Standards of the American Institute of Certified Public Accountants; or (2) engagements governed by the government auditing standards issued by the U.S. Government Accountability Office; (3) examinations of prospective financial information under: […]
(a) Prior to conducting a peer review, an individual must be approved by the Board. (b) In order to receive approval from the Board, a peer reviewer shall: (1) have and maintain an active license as a certified public accountant in this or any other state; (2) possess a level of knowledge of applicable professional standards acceptable to the […]
(a) Upon the receipt of a report from a peer reviewer, the Board shall review the report to determine what disciplinary or corrective action is appropriate. (b) The Board may require a licensee or permit holder to: (1) undergo peer review more frequently than once every 3 years; and (2) complete additional continuing professional education courses. (c) Prior to taking […]
