As approved by the NASBA Board of Directors, we are releasing for a 60-day comment period, proposed revisions to the Uniform Accountancy Act’s Model Rules that pertain to peer review. These revisions were developed by the NASBA Peer Review Compliance Committee (PRCC), working with AICPA’s peer review staff, and reviewed and edited by the NASBA Uniform Accountancy Act Committee, which recommended them to the NASBA Board for public comment.
The following proposed revisions to the UAA Rules incorporate the additional documents and objective information to existing UAA Rules 7-4 and 7-5 related to the AICPA’s Facilitated State Board Access (FSBA). It identifies applicable documents/information, when they are due to be submitted, and how they are submitted. The proposed UAA language requires firms to submit these documents and objective information to the board of accountancy and shall allow the administering entity to provide the board access to the documents and objective information via a secure website process such as FSBA.
Rule 7-4(a) was amended to include a reference to Rule 7-5(b) through 7-5(d). A comment following Rule 7-4(a) was deleted because it was outdated. Rule 7-5(e) was amended to clarify when a letter from the administering entity is due to the board of accountancy and adds references to Rule 7-5(b) through 7-5(d).
The title to Rule 7-5 was modified to add the term “and objective information.” Further clarification was added to the comment following Rule 7-5(a) and the 30-day submission period was added to Rule 7-5(b). These changes allowed for Rule 7-5(c) to be deleted as written and replaced with a list of documents and objective information to be provided by the firm to the board of accountancy.
Minor wording changes in Rule 7-5(d), including the addition of the term “and objective information” are consistent with other changes in Rule 7-5.
We believe these changes will provide guidance for State Boards and firms in the years ahead. We encourage the State Boards and other interested parties to consider these proposed changes and send any comments or recommendations to the UAA Committee via email@example.com by January 2, 2024.
- MEMBER CENTER
- Products & Services
- Communications & Outreach
- Legislative Support
- Peer Review Overview, Tools & Resources
- DE&I at NASBA
- Enforcement Tools
- NASBA Awards
- NASBA Nation
- Board Gateway Access
- Executive Director Portal
- Credit Extension Map
- Becoming a CPA
- CPA Exam
- International Qualification Examination (IQEX)
- NASBA International Evaluation Services
- Exam News
- Products and Services