(1) The Oregon Board of Accountancy shall appoint a Peer Review Oversight Committee. The board may also approve applications for operation of alternative peer review programs such as programs provided by the American Institute of Certified Public Accountants and the National Society of Accountants.
(2) Each holder of a permit under ORS 673.150 and each business organization registered under ORS 673.160 that performs attestation or compilation services shall participate in a peer review program described in this section. The peer review shall be conducted by the board or by an alternative peer review program approved by the board under subsection (1) of this section.
(3) The members of the committee serve at the pleasure of the board.
(4) A member of the committee appointed under this section is entitled to expenses as provided in ORS 292.495.
(5) The committee may review:
(a) Any financial statement or report filed with the state or any political subdivision and prepared by a certified public accountant or public accountant;
(b) Any procedure, working paper or supporting document relating to the financial statement or report; and
(c) Any peer review report.
(6) If the client grants permission or if all information identifying the client has been removed, the committee also may review any financial statement not described in subsection (5) of this section and prepared by a licensee, or any procedure, working paper or supporting document relating to the financial statement.
(7) The failure or refusal by any licensee to comply with a request for review or explanation, or both, of such financial statement as set forth in this section constitutes a violation of ORS 673.170 (2)(b). [1981 c.89 §17; 1983 c.254 §1; 1985 c.605 §18; 1989 c.771 §2; 1993 c.193 §1; 1999 c.322 §29; 2001 c.638 §12; 2003 c.4 §1; 2005 c.39 §7]
Section: Previous 673.410 673.415 673.420 673.430 673.440 673.445 673.450 673.455 673.457 673.460 673.465 673.470 673.480 673.605 673.610 NextLast modified: August 7, 2008