Purpose
Effective Mar 5, 2026Ark. R. 2026-21 (eff. March 5, 2026)Arkansas Code § 17-12-203; Arkansas Code § 17-12-507
- (a) There is hereby established a Practice Review Program (the “program”).
- (b) The purpose of the program is to improve the quality of financial reporting and to ensure that the public can rely on the fairness of presentation of financial information on which licensees issue reports.
(c)
- (1) The program emphasizes education and rehabilitation rather than disciplinary action.
- (2) Appropriate educational programs or procedures will ordinarily be recommended or required where reporting does not comply with appropriate professional standards.
- (3) However, when a licensee is unwilling or unable to comply with such standards, or a licensee’s professional work is so egregious as to warrant disciplinary action, such action may be taken as the appropriate means of protecting the public interest.