Section 12 AAC 04.600 - Peer review requirements(a) A permit holder who issued a report on audited or reviewed financial statements during the concluding permit period shall(1) certify that within the three years before the date of application for permit renewal, the permit holder has undergone a peer review that meets the requirements of (A) American Institute of Certified Public Accountants, AICPA Standards for Performing and Reporting on Peer Reviews, June 2023 edition, adopted by reference, excluding any reference to compilations; or(B) National State Auditors Association (NSAA), Peer Review Manual, 2022 edition, adopted by reference;(2) remain in good standing with the organization administering the peer review; and(3) submit the most recent written acceptance report from the AICPA at the request of the board if required,(b) In this section, (1) "organization administering the peer review" means(A) a state certified public accountant society authorized by the American Institute of Certified Public Accountants (AICPA) Peer Review Board to administer quality reviews; or(B) the National State Auditors Association;(2) "permit holder" means a person or firm that holds a permit to practice under AS 08.04.420.Eff. 7/27/97, Register 143; am 11/2/2001, Register 160; am 10/16/2003, Register 168; am 12/25/2015, Register 216, January 2016; am 4/12/2024, Register 250, July 2024Authority:AS 08.04.070
AS 08.04.426