17 CAR § 236-1901 – Purpose

(a) Pursuant to Arkansas Code § 17-12-508, licensees who issue attest reports are required to enroll in a board-approved peer review program to monitor licensees’ compliance with applicable accounting and auditing standards adopted by generally recognized standard-setting bodies.
(b) The program shall emphasize education, including remedial procedures, which may be recommended or required when financial statement reports do not comply with professional standards.
(c) In the event a licensee does not comply with established professional standards, or a licensee’s professional work is so inadequate as to warrant disciplinary action, the board shall take appropriate action as to protect the public interest.