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17-12-508. Peer review.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-12-508. Peer review.
(a)(1) Beginning January 1, 2019, the Arkansas State Board of Public Accountancy shall by rule require licensees who perform attest services to enroll in an approved peer review program and have a peer review one (1) time every three (3) years.
(2) Licensees who perform compilation or preparation of financial statements as their highest level of service shall be excluded from the peer review requirement under this section.
(b) Peer reviews shall be conducted in accordance with standards that the board sets by rule.
(c) Licensees who fail to obtain peer review ratings required by the board or who otherwise fail to comply with peer review standards established or adopted by the board are subject to sanctions under § 17-12-602.
(d)(1) All financial statements, working papers, or other documents obtained from licensees or applicants for peer review shall be confidential and shall not be subject to public inspection except under an order of a court of competent jurisdiction.
(2)(A) The documents deemed confidential under subdivision (d)(1) of this section shall be exempt from disclosure under the Freedom of Information Act of 1967, § 25-19-101 et seq.
(B) Documents exempted under subdivision (d)(2)(A) of this section may be introduced as evidence in any relevant proceeding before the board.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-12-508
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:17-12-508
Source file: gov.ar.code.title.17.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 03710c4218cd38c82e4c5bf484c50412722507f20e5843d6c9026942e03a27cd
Source location: content.xml paragraph 1555
Stored source content
17-12-508. Peer review.
(a)(1) Beginning January 1, 2019, the Arkansas State Board of Public Accountancy shall by rule require licensees who perform attest services to enroll in an approved peer review program and have a peer review one (1) time every three (3) years.
(2) Licensees who perform compilation or preparation of financial statements as their highest level of service shall be excluded from the peer review requirement under this section.
(b) Peer reviews shall be conducted in accordance with standards that the board sets by rule.
(c) Licensees who fail to obtain peer review ratings required by the board or who otherwise fail to comply with peer review standards established or adopted by the board are subject to sanctions under § 17-12-602.
(d)(1) All financial statements, working papers, or other documents obtained from licensees or applicants for peer review shall be confidential and shall not be subject to public inspection except under an order of a court of competent jurisdiction.
(2)(A) The documents deemed confidential under subdivision (d)(1) of this section shall be exempt from disclosure under the Freedom of Information Act of 1967, § 25-19-101 et seq.
(B) Documents exempted under subdivision (d)(2)(A) of this section may be introduced as evidence in any relevant proceeding before the board.
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Arkansas Code — all titles (historical 2020) · legal_authorities
17-12-602. Sanctions.
(a) If a licensee or holder of a practice privilege under § 17-12-311 is found to have committed an action or omission identified in § 17-12-601, the Arkansas State Board of Public Accountancy may impose any one (1) or more of the following sanctions:
(1) Suspension, revocation, or denial of his or her license or practice privilege or the renewal thereof;
(2) A penalty not to exceed ten thousand dollars ($10,000) for each violation as well as investigation costs incurred by the board;
(3) Completion of appropriate education programs or courses;
(4) Preissuance review of audits, review reports, or compilations;
(5) Quality review conducted in such a manner as the board may specify;
(6) Successful completion of the licensing examination;
(7) Conditions or restrictions upon the license, registration, or practice privilege; and
(8) All other requirements or penalties the board finds appropriate to the circumstances of the case and that would achieve the desired disciplinary purposes but that would not impair the public welfare and morals.
(b) In any proceeding in which the board finds that the licensee or holder of a practice privilege has committed any action or omission identified in § 17-12-601, the board may also require the licensee to pay the cost of the proceeding.
(c) Each instance when a federal or state law or any board rule is violated shall constitute a separate violation.
(d) Upon imposition of a sanction, the board may order that the license, permit, certificate, credential, registration, or practice privilege be suspended until its holder has complied in full with all applicable sanctions imposed under this section.
(e)(1) The power and authority of the board to impose sanctions authorized in this section are in
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-12-602
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 17-12-602. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
25-19-101. Title.
This chapter shall be known and cited as the “Freedom of Information Act of 1967”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 25-19-101
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 25-19-101. This identifies an authority to review, not proof of applicability.