AR SB260

Requires the Arkansas State Board of Public Accountancy to establish rules mandating peer review every three years for licensees who perform attest services, effective January 1, 2019.

Excludes licensees whose highest level of service is compilation or preparation of financial statements from the peer review requirement.

Makes peer review documents confidential and exempt from public inspection and Freedom of Information Act disclosure, except by court order or in board proceedings.

Subjects licensees who fail to obtain required peer review ratings or comply with peer review standards to sanctions under existing disciplinary provisions.

Exempts licensees enrolled in the peer review program from existing quality review requirements under Arkansas Code § 17-12-507, effective January 1, 2019.