N.J. Admin. Code § 13:29-5.8

Current through Register Vol. 56, No. 21, November 4, 2024

Section 13:29-5.8 - Procedures for a sponsoring organization

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

1. Establish a program to communicate to firms participating in the peer review program the latest developments in peer review standards and the most common finding in the peer reviews conducted by the sponsoring organization;

2. Establish procedures for resolving any disagreement that may arise out of the performance of a peer review;

3. Establish procedures, including conducting hearings, to resolve matters that may lead to the dismissal of a firm from the peer review program;

4. Establish procedures, including the conducting of hearings, to evaluate and document the performance of each reviewer for compliance with AICPA standards that may lead to the disqualification of a reviewer who does not meet the standards;

5. Require the maintenance of records of peer reviews conducted under the program in accordance with the records retention rules of the AICPA; and

6. Provide for periodic reports to the Board on the results of the peer review program.

N.J. Admin. Code § 13:29-5.8

Amended by R.1995 d.268, effective 6/5/1995.
See: 27 N.J.R. 1134(a), 27 N.J.R. 2238(a).
Inserted "or seriously substandard".
Amended by R.1999 d.195, effective 6/21/1999.
See: 31 N.J.R. 24(a), 31 N.J.R. 1617(a).
Rewrote the section.
Repeal and New Rule, R.2010 d.181, effective 9/7/2010.
See: 41 N.J.R. 3018(a), 42 N.J.R. 2130(a).
Section was "Committee action on reviewed reports".