| (a) A firm must submit to the board:
(1) a copy of the peer review report and the FLOA from
the sponsoring organization, if such report has a rating of pass;
(2) a copy of the peer review report, the firm's LOR,
the CAL, and FLOA if the report has a rating of pass with deficiencies
or fail; or
(3) a copy of any final report resulting from any inspection
by the PCAOB firm inspection program together with documentation of
any significant deficiencies and findings and the firm's response.
(b) Any report or document submitted to the board under
this section is confidential pursuant to the Act.
(c) Any report or document (collectively referred to
as "documents") required to be submitted under subsection (a) of this
section shall be filed with the board as provided below:
(1) Peer review documents will be made available by
the TXCPA for firms enrolled in the AICPA and TXCPA Peer Review Programs
and administered by the TXCPA. Peer review documents will be made
available by the TXCPA by posting such documents within 30 days of
issuing its notice of acceptance to such firms on the FSBA web site.
The reviewed firm must, within 10 days of receipt of the notice of
completion from the TXCPA, complete the board's Peer Review Compliance
Reporting form and submit it to the board along with the required
documents.
(2) Firms otherwise enrolled in the AICPA peer review
program (including those whose peer reviews are administered by the
NPRC, and state CPA societies fully involved in the administration
of the AICPA Peer Review Program) must, within 10 days of receipt
of the notice of completion from the sponsoring organization, complete
the board's Peer Review Compliance Reporting form and submit it to
the board along with the required documents. However, this requirement
may be met by allowing the firm's peer review documents to be posted
on the FSBA web site, with access granted to the board within 30 days
of issuing its notice of acceptance to such firms on the FSBA web
site.
(3) Firms subject to the PCAOB permanent firm inspection
program must, within 10 days of receipt of the notice of completion
from the PCAOB, complete the board's Peer Review Compliance Reporting
form and submit it to the board along with the required documents.
(d) The information required under subsection (c) of
this section must be filed with the board either by mail or electronically
such as by fax, email, or FSBA web site.
|
| Source Note: The provisions of this §527.6 adopted to be effective October 16, 2002, 27 TexReg 9579; amended to be effective October 12, 2004, 29 TexReg 9540; amended to be effective August 3, 2005, 30 TexReg 4333; amended to be effective April 15, 2009, 34 TexReg 2382; amended to be effective August 11, 2010, 35 TexReg 6829; amended to be effective June 13, 2013, 38 TexReg 3609; amended to be effective August 4, 2016, 41 TexReg 5553; amended to be effective February 8, 2023, 48 TexReg 518 |
