21 N.C. Admin. Code 8M.0106

Current through Register Vol. 39, No. 9, November 1, 2024

Section 08M .0106 - COMPLIANCE

(a) A CPA firm registered for peer review shall provide to the Board the following:

(1) peer review due date;

(2) year end date;

(3) final Letter of Acceptance from peer review program within 60 days of the date of the letter; and

(4) a package to include the Peer Review Report, Letter of Response, and Final Letter of Acceptance for all failed and second passed with deficiencies reports issued by a peer review program within 60 days of the date of the Final Letter of Acceptance.

(b) A peer review shall not be complete until the Final Letter of Acceptance is issued by the peer review program with the new due date.

(c) If a CPA firm fails to comply with Rule .0105(c), (d), or (g) of this Section, and continues to offer or render services, the Board may take disciplinary action against the CPA firm's members that may include a suspension of each members' CPA certificate for a period of not less than 30 days and a civil penalty up to one thousand dollars ($1,000) as set forth in G.S. 93-12(b)(9).

21 N.C. Admin. Code 08M .0106

Authority G.S. 93-12(7b); 93-12(8c);
Eff. January 1, 2004;
Amended Eff. February 1, 2011; January 1, 2006;
Readopted Eff. February 1, 2016.

Authority G.S. 93-12(7b); 93-12(8c);
Eff. January 1, 2004;
Amended Eff. February 1, 2011; January 1, 2006.

Amended by North Carolina Register Volume 30, Issue 17, March 1, 2016 effective 2/1/2016.