Texas Administrative Code

Texas Administrative Code

TITLE 22	EXAMINING BOARDS
PART 22	TEXAS STATE BOARD OF PUBLIC ACCOUNTANCY
CHAPTER 527	PEER REVIEW
RULE §527.11	Responsibilities of Peer Review Report Committee

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

Source Note: The provisions of this §527.11 adopted to be effective October 16, 2002, 27 TexReg 9579; amended to be effective October 12, 2004, 29 TexReg 9540; amended to be effective April 15, 2009, 34 TexReg 2384; amended to be effective August 4, 2016, 41 TexReg 5556