1. (1) The Board shall:

   1. (a) Establish standards for approved peer review programs;
   2. (b) Review sponsor applications for peer review programs for approval;
   3. (c) Consider reports from the PROC;
   4. (d) Take appropriate actions to carry out the functions of the PROC and achieve the purpose of the peer review requirement; and
   5. (e) Authorize, conduct or contract for a peer review program as the Board, in its discretion, deems to be appropriate.

2. (2) Peer Review Oversight Committee:

   1. (a) The committee shall be composed of at least three members;
   2. (b) No committee member may be a current member of the Board or RAB, or perform any enforcement related work for regulatory or governmental bodies, professional organizations (including but not limited to AICPA or state ethics committee, AICPA Joint Trial Board) or similar groups or subgroups;
   3. (c) At least one member shall have an active license to practice public accountancy in this state and shall have current experience in accounting and auditing, quality control practices, and be an AICPA qualified peer reviewer;
   4. (d) One member may be a non-licensee with suitable experience in preparing or using financial statements.
   5. (e) Each member is required to sign a confidentiality agreement indicating they will not divulge any information to the Board that would identify any firm, licensee, or peer reviewer/reviewing firms as a result of their monitoring of the peer review process.

Statutory/Other Authority

ORS 673.455 & OL 2001, Ch. 638 & Sec. 12

Statutes/Other Implemented

ORS 673.455

History

BOA 1-2019, amend filed 12/19/2019, effective 01/01/2020
BOA 1-2018, amend filed 05/21/2018, effective 05/22/2018
BOA 7-2009, f. 12-15-09 cert. ef. 1-1-10
BOA 11-2005, f. 11-22-05, cert. ef. 12-15-05
BOA 6-2001, f. 12-28-01, cert. ef. 1-1-02
BOA 6-1999, f. 12-21-99, cert. ef. 1-1-00
BOA 1-1998, f. & cert. ef. 1-26-98
AB 2-1996, f. & cert. ef. 9-25-96
AB 2-1994, f. & cert. ef. 4-28-94