- (a) Audits shall be performed by independent certified public accountants (CPAs) currently holding an annual permit to practice (United States Government Accountability Office Yellow Book 6.04, Requirements: Licensing and Certification) from the Arkansas State Board of Public Accountancy.
- (b) Partnerships and corporations of CPAs who are practicing public accounting must comply with the board with respect to those members, stockholders, and employees required to be CPAs and to hold a permit to practice.
(c)
- (1) Auditors must maintain professional proficiency through continuing professional education (CPE).
- (2) Auditors performing audits in accordance with Uniform Guidance and generally accepted government auditing standards must meet required CPE requirements for licensure (United States Government Accountability Office Yellow Book Chapter 4, Continuing Professional Education).
- (3) Auditors of nonprofit organizations' activities and funding should receive training related to that environment and any other specific or unique activities audited.