1. (1) The objective of this reporting rule is to reinforce the Board’s efforts to ensure that only appropriately qualified firms and licensed CPAs are engaged in offering and rendering attest work. Based upon its review of any documents submitted pursuant to this rule, the Board may consider imposing discipline against a reviewed firm and any individual licensees employed or contracted by the reviewed firm and involved in the attest function if the Board determines a violation occurred.

2. (2) Each firm shall submit a copy of the results of its most recently accepted peer review to the Board within thirty (30) days from the date of acceptance or completion letter, whichever is applicable. The required documents include:

   1. (a) Peer Review Report which has been accepted by the administering entity;
   2. (b) Firm’s letter of response accepted by the administering entity, if applicable;
   3. (c) Acceptance letter from the administering entity;
   4. (d) Letter(s) accepting the documents signed by the firm with the understanding that the firm agrees to take actions required by the administering entity, if applicable; and
   5. (e) Letter signed by the administering entity notifying the firm that required actions have been appropriately completed, if applicable.

3. (3) For peer reviews scheduled on or after June 1, 2025, the firm is required, within thirty (30) days of the firm sending or receiving such communication, as appropriate, to provide the Board with a copy of any written, including electronic, communication along with any objective information as is applicable:

   1. (a) From the administering entity notifying the firm of the firm’s enrollment or reenrollment in an approved peer review program;
   2. (b) From the firm as part of an approved peer review program that it has not performed engagements subject to peer review in the last twelve (12) months;
   3. (c) Setting a due date for the firm’s current peer review or setting a due date for any open corrective action(s) as part of a peer review;
   4. (d) Granting of peer review, or corrective action, due date extension request, including any communication setting a new date for the peer review or corrective action;
   5. (e) From the administering entity acknowledging the peer review was scheduled; and
   6. (f) Providing actual or estimated dates of the peer review commencement or presentation to a report acceptance body.
4. (4) A peer review shall not be considered complete until the acceptance letter or completion letter (if applicable) is issued by the administering entity with the new due date.
5. (5) Firms shall authorize the administering entity to provide the Board access to the documents and objective information, referenced in paragraphs (2) and (3) of this rule, via a secure website process such as the AICPA Facilitated State Board Access (“FSBA”).

Authority: T.C.A. §§ 62-1-105, 62-1-111, and 62-1-201. Administrative History: Original rule filed February 23, 2018; effective May 24, 2018. Amendments filed June 30, 2025; effective September 28, 2025.