Section 872 IAC 1-6-11 - AICPA standards for peer review programAuthority: IC 25-2.1
Affected: IC 25-2.1
Sec. 11.
(a) That certain document being titled Standards for Performing and Reporting on Peer Reviews (copyright 2008, effective January 1, 2009), as published by the American Institute of Certified Public Accountants (AICPA), 1211 Avenue of the Americas, New York, New York 10036-8775, is hereby incorporated by reference as if fully set out in this rule except for the revision stated in this section. This document applies to peer reviews (known as quality reviews before July 1, 2012) performed after December 31, 2008.(b) That certain document being titled Standards for Performing and Reporting on Peer Reviews (copyright 2004, effective January 1, 2005), as published by the American Institute of Certified Public Accountants (AICPA), 1211 Avenue of the Americas, New York, New York 10036-8775, is hereby incorporated by reference as if fully set out in this rule except for the revision stated in this section. This document applies to peer reviews (known as quality reviews before July 1, 2012) performed before January 1, 2009.(c) Notwithstanding the use of the word "should" in the Standards for Performing and Reporting on Peer Reviews, a reviewer must: (1) comply with the standards; or(2) justify any departure therefrom.(d) The Standards for Performing and Reporting on Peer Reviews is incorporated by reference in this rule to establish substantive standards for peer reviews. Any requirement for membership in the AICPA or other organization or the involvement of any AICPA entity or state CPA society in the peer review process shall not apply. The peer review program under this rule is administered by the board and the administering entity established under section 8 of this rule. However, this subsection shall not be construed to limit the involvement of either the AICPA or the state CPA society in any peer review activity involving their members as long as the resulting peer review complies with this rule.(e) If any provision of the Standards for Performing and Reporting on Peer Reviews conflict in any way with IC 25-2.1 or this title, it shall not apply.Indiana Board of Accountancy; 872 IAC 1-6-11; filed Oct 13, 2004, 11:30 a.m.: 28 IR 968; filed Dec 5, 2008, 10:29 a.m.: 20081231-IR-872070306FRA; readopted filed Nov 12, 2010, 10:07 a.m.: 20101208-IR-872100410RFA; filed Jan 2, 2013, 3:43 p.m.: 20130130-IR-872120264FRAReadopted filed 11/26/2019, 3:48 p.m.: 20191225-IR-872190191RFAReadopted filed 1/12/2024, 11:32 a.m.: 20240207-IR-872230761RFA