Sec.20-281-2. Requirement for quality review—areas to be reviewed

(a) Every permit holder, as a condition of renewal of its permit pursuant to C.G.S. § 20-281, must undergo a quality review in accordance with these Regulations to determine and report on the degree of compliance by permit holders with generally-accepted accounting principles, generally-accepted auditing standards, and other similarly recognized authoritative technical standards. The quality review will include the financial reporting areas of practice, including audit engagements, review engagements, and compilation engagements of both historical and prospective financial information.

(b) It is the obligation of the permit holder to take all steps necessary to undergo quality review when scheduled and to submit the report thereon to the Board as required by these Regulations. Failure of the permit holder to receive any notice required or permitted by these Regulations shall not excuse a permit holder from its obligation to undergo quality review, and to file the report thereon to the Board as required under these Regulations.

(Effective May 16, 1990)