- (a) Pursuant to the Oklahoma Accountancy Act, §15.30, the Board establishes a peer review program to monitor firms' compliance with applicable accounting and auditing standards adopted by generally recognized standard-setting bodies. The program shall emphasize education, including appropriate remedial procedures, which may be recommended or required when financial statement reports do not comply with professional standards. In the event a firm does not comply with established professional standards, or a firm's professional work is so inadequate as to warrant disciplinary action, the Board shall take appropriate action to protect the public interest.
- (b) This subchapter shall not require any firm to become a member of any sponsoring organization.
Added at 21 Ok Reg 1981, eff 7-1-04
Amended at 22 Ok Reg 1691, eff 7-1-05
Amended at 23 Ok Reg 2123, eff 7-1-06