California Business and Professions Code

§ 5076

BPC § 5076 Effective Jan 1, 2025Div. 3 · Ch. 1 · Art. 4

Statute text

(a)In order to renew its registration in an active status or convert to an active status, a firm, as defined in Section 5035.1, shall have a peer review report of its accounting and auditing practice accepted by a board-recognized peer review program no less frequently than every three years.

(b)For purposes of this article, the following definitions apply:

(1)“Peer review” means a study, appraisal, or review conducted in accordance with professional standards of the professional work of a firm, and may include an evaluation of other factors in accordance with the requirements specified by the board in regulations. The peer review report shall be issued by an individual who has a valid and current license, certificate, or permit to practice public accountancy from this state or another state and is unaffiliated with the firm being reviewed.

…

Legislative history

Amended by Stats. 2024, Ch. 586, Sec. 10. (AB 3251) Effective January 1, 2025.