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TITLE 22EXAMINING BOARDS
PART 22TEXAS STATE BOARD OF PUBLIC ACCOUNTANCY
CHAPTER 527PEER REVIEW
RULE §527.9Procedures for a Sponsoring Organization

(a) To qualify as a sponsoring organization, an entity must submit a peer review administration plan to the board for review and approval by the PROB. The plan of administration must:

  (1) establish a PRRC and subcommittees as needed, and provide professional staff as needed for the operation of the peer review program;

  (2) establish a program to communicate to firms participating in the peer review program the latest developments in peer review standards and the most common findings in the peer reviews conducted by the sponsoring organization;

  (3) establish procedures for resolving any disagreement which may arise out of the performance of a peer review;

  (4) establish procedures to resolve matters which may lead to the dismissal of a firm from the peer review program, and conduct hearings pursuant to those procedures;

  (5) establish procedures to evaluate and document the performance of each reviewer, and conduct hearings, which may lead to the disqualification of a reviewer who does not meet the AICPA standards;

  (6) require the maintenance of records of peer reviews conducted under the program in accordance with the records retention rules of the AICPA; and

  (7) provide for periodic reports to the PROB on the results of the peer review program.

(b) A sponsoring organization is subject to review by the board and the PROB.

(c) The PCAOB is exempt from these requirements.


Source Note: The provisions of this §527.9 adopted to be effective October 16, 2002, 27 TexReg 9579; amended to be effective October 12, 2004, 29 TexReg 9540; amended to be effective June 13, 2013, 38 TexReg 3610

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