AR SB841

Quality review requirements for accountant license renewal are eliminated after December 31, 2016, under Arkansas Code § 17-12-507(a).

Beginning January 1, 2017, the Arkansas State Board of Public Accountancy may require licensees who perform attest services to undergo peer review once every three years.

Engagement-level peer reviews are required for licensees who issue reviews or agreed-upon procedures reports.

System-level peer reviews are required for licensees who issue audit reports.

Compilation and other non-attest engagements may be excluded from peer review requirements, and failure to cooperate with peer review is subject to sanctions under § 17-12-602.